HFCL - Weekly Chart Analysis
8 week of consolidation seen, ~12% range and an attempt to breakout but failed. We now need at least 2 daily close above 70.15 levels for it to be considered as strong candidate and willingness to move upwards. This week we can see a gap-away candle but long wick while closing the week is a concern. 2 pocket pivots volumes back to back on daily TF signals some kind of accumulation. Still a wait and watch candidate and low cheat entry setup forming up. Will see how the price action takes place this week.
Keep it in your watchlist. If it manage to sustain above 70.15 levels then it can test the down trend line at first and then the supply zone(82-95) thereafter.
Above view stand invalid if it close weekly below 58.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade as per your own risk.
Keep it in your watchlist. If it manage to sustain above 70.15 levels then it can test the down trend line at first and then the supply zone(82-95) thereafter.
Above view stand invalid if it close weekly below 58.
Disclaimer: This is just an analysis and not a buy/sell recommendation. If you intend to trade this counter then do your own due diligence and trade as per your own risk.
Disclaimer
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