Swing or Positional Opportunity in Hcl Technologies
Go Long above 912.1 for Targets of 927.7, 943.25, 958.85, 974.5, 990.15, 1005.65, and 1021.25 with SL 896.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Hammer (marked with an orange circle) is formed at 0.618 Fibonacci level.
3. Also there is a Demand Zone (marked with a green rectangle ) around 0.618 Fibonacci level from which the stock is taking support and moving up.
4. Also the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.618 Fibonacci level.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Hammer (marked with an orange circle) is formed at 0.618 Fibonacci level.
3. Also there is a Demand Zone (marked with a green rectangle ) around 0.618 Fibonacci level from which the stock is taking support and moving up.
4. Also the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.618 Fibonacci level.
Trade active:
Entry Triggered on 17 May 2021
Trade closed: target reached:
Target 1 Achieved on 18 May 2021. Now trail SL to Buy price and ride for higher targets.
Trade closed: target reached:
Target 2 Achieved on 25 May 2021
Trade closed: target reached:
Target 3 achieved on 08 June 2021