Aayush_Rungta

Trend Analysis - Bounce from Support

Long
NSE:HCLTECH   HCL TECHNOLOGIES
HCL Tech is one of the leading IT companies quite similar to Wipro and Infosys .
It seems it has reached the trendline support and shown a healthy bounce of 4% in 4 days

The share dragged because of lower than expected quarterly earnings and PE wise, it is trading at 27 while TCS , Infosys and Wipro are between 34-36 region.
TCS has made a similar pattern as well and it will be interesting to see how these 2 shares pan out in the coming days.

I don't expect any impulsive move but slow and steady upside move.


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