HCLTECH
#HCLTECH at the strong resistanceScrip name- HCLTECH
Position - Bearish
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Technicals-
1. Forming a hypothetical HNS pattern
2. Strong resistance at the marked zone
3. Volume explanation on the chart. Although, this is not the exact textbook example, but who wants that anyway!
4. My little understanding towards market structure and price action.
Do understand, many times the scrip goes deep into the marked zone, so if bounces, look for selling opportunity in the zone or if crosses above the zone, do not go short and neither go long.
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Targets-
TP1 - 903
TP2- 880
TP3 - 854
TP4 - 827
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Also, please understand the entry and exit you have to find yourself according to your strategy.
Maintain 1:3 RR minimum with target 1.
If you like my efforts and ideas, do give a like and comment to motivate me.
Regards
HCL TECHNOLOGIES - IMPORTANT LEVELS FOR MARCH 2021
Go Long above 960
Go Short if the price pierces down through the grey zone.
Go Short if the downtrend line does not hold.
Use appropriate risk-reward ratio.
Always use a stop loss.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.