Massive gap down opening could not trigger the stop loss. Strong closing above Breakout levels. Dip is buying opportunity. Do not fear the temporary weakness.
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Tomorrow once again we might see sharp up move towards target 1
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Day is here, IT started moving.
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Acting as planned. Hold with Trailing stop loss
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I'm not comfortable holding trade anymore - 1 . Price just broke down trend line on closing basis 2 . Previous Resistance is showing it's strength and keeping the price on lower levels 3 . Today we received nice 17Rs Dividend
As of now stock is not showing big weakness but stock is just not poised to move up sharply. Take position only after closing above 950-955 levels.
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Supply Zone now acting as a Support zone. IT index moved up< hoping to see sharp move in lagged stock like this soon
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Watch closely now. We might move towards target 2 very sharply
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trail stop loss now to 945-950 on closing basis
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All targets Hit . IF someone want's then one can trail and go ahead for further upmove. Right now I'm closing the trade,too many trades to update on.
@ravindragadade, thanks. Let me know if you like to add something to this analysis .
rksharma1091
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your view on hcltech n LTI both IT STOCKS 9819134791
ad11patankar
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@rksharma1091, Sir, Please do not to post your Personal number on comments.
There are many others who's looking for this type of info.
Mostly use for mass advertising ,one of the biggest threat if this number is connected to various bank and trading account !
LTI & HCL both are in my portfolio.
LTI 1880-1950 is bit resistance zone.
stock moving up without any meaningful correction.
Stock might show small correction till 1630.
If you bought at lower levels ,always recommended to book the profit .
On HCL- Stock is moving with intermediate correction ,not a straight rally. I would suggest keep holding the stock for long term and no harm to add some on dips .
ad11patankar
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@rksharma1091, send me personal message here on trading view, without any hesitation sir, Happy to help. :)
UnknownUnicorn6893108
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Nice analysis.
ad11patankar
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@Anjan_Budidha, thanks you. Let me know if you like to add something to this analysis .
UnknownUnicorn6893108
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@ad11patankar, Definitely there is a high probable long trade in place around 841-855 levels,
1. On daily time frame it is in uptrend , already broken out flag/ descending triangle pattern @812 levels and continued it's uptrend .
2. 2nd time it has broken out a small ascending triangle pattern @840-850 levels and getting ready for further up move.
3. On basis of this price action and chart patterns there is a high probability it will continue its up move unless there is exceptional negative broader market sentiment unveils.
Lets together learn and trade. Thank you.
ad11patankar
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@Anjan_Budidha, perfect! Even after today's fall , stock is holding it's very important level's.
Today's fall is actually a nice buying opportunity.
Risk reward at CMP is beautiful!