HCL -Time to GO Long.

HCLTECH

HCL is time to Go long for the Following :
1) Gap Up on Friday.
2) Net Volume Up.
3) Supertrend Positive
4) RSI indicating Long Position.

Keep trailing Stoploss at the moving Blue Line of Super Trend or you can get out of position when RSI Comes down and Cuts below Yellow Mean Line.
If INR 1367 is beaten, it can move further up. Be careful around that level.

For Educational Purposes only. The author is not responsible for Financial Losses.

Comment:

The gap on Strategy is a very Common strategy to enter into stocks for Positional Trading. I have also checked my idea with Net Volume that shows that Gap Up was sparked by movement in Large-Volume.
Supertrend has been plotted to identify Whether two supertrends are Green and showing a go for Long.
RSI is also Above 60 and above the Yellow Line and supports my view.
That's Why I have asked to go long and to keep trailing stop loss along the Blue Supertrend line and for a safer bait, you can also exit when RSI cuts below Yellow Mean Line plotted inside the RSI Chart.

Comment:

Today HCL Rallied more than 1.5 Percent.

Trade active

Trade active

Trade closed: target reached:

The Trade is still on. But I have exited at a profit of 60 Points Pershare.
Hence I am closing The idea Successfully. Keep the Same Target and Keep in mind if the Moving average is Crossed by RSI from above Exit the trade.