HCL TECHNOLOGIES LTDShort
Multiple Bearish Patterns in HCLTECH
There are multiple bearish patterns in HCLTECH chart:
1. It made a double top pattern but zone 1 acted strong and it gave a bounce and made a lower swing high.
2. It has given a breakdown of it's 18 month old lower strong support trendline and kept consolidating in zone 1 after the breakdown.
3. Yesterday it got rejected from the trendline and 20 EMA and today it has finally broken down from zone 1 as well
Sell below 1000 level for Target 1: 970, Target 2: 940 and Target 3: 910
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr. Tanya Kumar
1. It made a double top pattern but zone 1 acted strong and it gave a bounce and made a lower swing high.
2. It has given a breakdown of it's 18 month old lower strong support trendline and kept consolidating in zone 1 after the breakdown.
3. Yesterday it got rejected from the trendline and 20 EMA and today it has finally broken down from zone 1 as well
Sell below 1000 level for Target 1: 970, Target 2: 940 and Target 3: 910
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr. Tanya Kumar
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.
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.