The stock already closing below the trend link and expected to test 900 and 860 levels if sustain below 950.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Based on the volume profile showing heavy support at CMP, the oversold RSI reading and overall base trend line, the stock can rebound to ~Rs.1000 within the next 7 days. Note - earnings are post market on friday 23rd April.
Link to longer time frame trade Idea on HCL:
HCL TECHNOLOGIES
fundamentally strong and P/E is showing it's cheap to BUY now for LONG term investors.
1067.80 has a Strong RESISTANCE LEVEL if breaks this level BUY, and 1067.80 will become STOP LOSS.
If failure to break becomes reversal 1067.80 will become STOP LOSS and go for SHORT.
Note: These Targets for only Long term investors and Positional...
HCL Tech seems to have broken out of a downward trend, caused by fear selling in the markets this week. The stock has been following an upward trending parallel channel over the last few days and has also rebounded off the 50 DMA. It is set to achieve a target of 1110 by earnings release ~ 15th of May.
Target:1110
Entry: 991/CMP
Stop Loss: 960
Time: ~ 39...
Buy above 1021 for a target of 1033/1045/1055
major resistance @1055, it breaks that, then we can see an upside potential.
Support @200 EMA.
Major support @1000
The stock is in an uptrend, creating high lows and not sustaining below the trendline.
We would see Fresh Buying if sustains above its All-Time High (1067).
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
HCL Tech cross over happening in 1h but with the sl of 898 with the target 1025
If it travelling in a parallel channel it may go upto 1120
good luck all
