HCLTECH: Rounding Top
From Jul'22 low of INR 877 prices have retraced to Fibonacci 61.8% retracment level positioned at 1150 zone and formed a potential double top structure. Prices have also formed a Rounding Top pattern whose neckline is in the region of 1101-1100. The measured target for the pattern is coming in the region of 1050-1045 where its 200-EMA is also positioned
As per above observations prices are likely to hold below INR 1137 and fall towards INR 1050-1045 in the coming weeks.
Trading Strategy: Sell on cmp add on rise , keeping SL of 1137 look for the target of 1050-1045.
As per above observations prices are likely to hold below INR 1137 and fall towards INR 1050-1045 in the coming weeks.
Trading Strategy: Sell on cmp add on rise , keeping SL of 1137 look for the target of 1050-1045.
Manish Bhardwaj (CMT L-1)
Analyst & Co-Founder
tradingsutra.com
waveutra.com
INSTAGRAM-
instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA
Analyst & Co-Founder
tradingsutra.com
waveutra.com
INSTAGRAM-
instagram.com/mansh_25
TWITTER-
twitter.com/mansh_25
YOUTUBE -
@TRADINGSUTRA @WAVESUTRA
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.