HCL TECH ---POSITIONAL-- DAILY CHART
1. HCL TECH seen trendline breakout on daily chart at todays daily candle
2. Stock seen double bottom formation at 880 sub level before breakout done today
3. trix line seen bullish crossover at current level .
4. one can BUY 935-945 for positional target 1000-1050-1100 ( 1 Month) Stop loss can be place bellow double...
Volume is supporting the Price movement in a Weekly basis.
On daily Price decreased but Volume also decreased.
Stuck on Symmeterric Triangle.
Inside bar pattern formed.
Will wait for either side to Breakout.
HCL TECH -- HOURLY CHART -- INTRADAY SETUP -- 04/07/2022
1. HCL tech seen trendline breakout last hourly candle on hourly chart
2. Stock seen 44 , 200 HMA support at bellow last hourly candle
3. stock trading near channel bottom support pullback can seen from this level
4. Histogram seen supply decrease at current level from oversold level , double bottom...
HCL at support
Look for a good green closing for a valid entry
Technical analysis based on Trendlines & Price action
Use it just for reference and do your own analysis
Upward Channel is broken on the downside with a bearish engulfing candle
Close below the channel
support of 100 MA broken
MACD gives a negative sign
Go short
SL 1242
Target 1110
educational idea
if hcl tech posted good results we expect the stock May go for given target levels to inspire us,Please like the idea If you agree with the analysis.
Key Highlights:
1. Bullish market structure on HTF
2. Broke above the horizontal level
3. Untested demand zone below
4. Just above 200 MA on daily TF
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Rajat Kumar Singh (@johntradingwick)
NSE Certified Technical & Fundamental Analyst
As it is going contunous bullish and all time high Im expecting a reversal or retrace at thse levels bottom retest levels are 1250, 1240 and swing low at 1230. by any chance it can go and touch 1300 and then reverse
