Ascending Triangle Pattern in HCL Tech on Weekly ChartAscending Triangle Pattern Breakout and retest done on weekly chart of HCL Technologies.
Buy at 1256
SL below 1185
Target 1 : 1385
Target 2 : 1500
HCLTECH
A Good Up-Swing Expected in HCLTECHA good short term opportunity has presented itself in HCL Technologies. Stock has shown a good bounce off the 50 DMA with strong volumes. The move is coming on the back of satisfactory results. Nifty IT index is also in a good trending structure. A powerful Bullish Engulfing has formed right at the moving average which gives more confidence to go long.
SL: This is a small risk trade with Stop Loss being right below the Engulfing candle, somewhere around 1199.
Entry: Entries can be made right away at the open of next candle or you can also wait for some retracement for better risk reward ratio.
Target: Target can be ATH of around 1350+
HCL Tech BreakoutNSE:HCLTECH has given a strong breakout on weekly charts. This is another IT company that is looking strong. One can invest here with a stop loss at 1250. Go long.
Nifty ITOverview of Nifty IT index.
Nifty IT index trading at 52-Weeks high.
The Nifty IT Index tracks the performance of 10 Indian IT companies listed on the National Stock Exchange (NSE). It calculates values using the free float market capitalization method, starting with a base date of Jan 1, 1996, set at 1000. This indexing measures the total free float market value of the stocks relative to a specific base market capitalization value. Notably, the base value of the index was adjusted from 1000 to 100 on May 28, 2004.
Top 5 constituents by weightage
1. Infy - 26.77%
2. TCS - 24.9%
3. HCL Tech - 9.89%
4. Tech Mahindra - 8.86%
5. Wipro - 8.24%
View -
The ongoing surge in the Nifty IT index is expected to persist, driven primarily by major
players in the large-cap IT segment such as TCS, INFY, WIPRO, HCL TECH, and TECH
MAHINDRA. The favorable performance of NASDAQ, currently at its 52-week high, is likely to
have a positive impact on the broader IT sector.
Stock specific view ( Educational & Learning Purpose)
1. Infy heading towards 1620 level.
2. Wipro heading towards 480 level.
3. TCS heading towards 3850 & 4000 level.
4. TechM is on verge of breakout & will move towards 1500 level.
5. HCL tech is at all time high.
DISCLAIMER - All analyses are for educational purposes. it is not trading or investment advice.
HCLTECHHCL Technologies is also Near the Strong Resistance in Weekly it's Made a( Hanging Man Candle) Near the Resistance Trendline two things Happen Reverse or Take Support at Previous Resistance as Support Level
HCL Technologies Ltd#HCLTECH
CMP : ₹. 1364
Date : 09-12-2023
A leading global IT giant having more than 60% promoter holdings with zero promoter pledge and low debt. ROE,ROCE,ROA all fundamental parameters are improving for last two years. After the news that HCL Technologies Ltd intends to establish a chip packing unit in Karnataka with an estimated investment of $400 million ,share prices surged. Stock is now at its 52 week high. Technically also looking good with a breakout in daily charts. The room is now opened to fresh highs. Expecting a possible movement towards 1400 - 1500 and then to 2000 with in a sapan of 3- 9 months. Stoploss @₹.1250 levels.
Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
HCL Tech Looking bullishOur views on HCL Tech is bullish until it's up side of trendline and target is next resistance drawn
What's yours?
Investment_ HCL TechTrading and investing are completely different in nature.
In trading, we don't care about the prices whether it's fair or not.
We buy high and sell even higher.
But in investing, we should only buy a stock near its intrinsic value. No matter if everyone is making money except us. But, price which is justified by fundamentals are sustainable and proved sustainable historically.
"Intrinsic value is upgraded or declined based on fundamental changes. I amend my intrinsic value every year based on the growth of the company."
So here I am with a stock named HCL Tech. According to my method of calculating intrinsic value, it's not worth more than ₹700 a share.
It has broken its daily trendline on charts. And I am expecting it to come at least near my intrinsic value. Well, this will not happen overnight, it may take several months, to several years.
But, what if the stock didn't come down to my intrinsic value?
I won't buy it for investing. Never.
Short term trades can be taken, which can even last for several months, but for investing? Nope.
Disclaimer: The views expressed in this article is of my own, you're solely responsible for any decision taken in the markets. The analysis I've shared is just for informational and educational purposes only.
HCL TECH: Double bottom Breakout and Retest Details are mentioned in Chart.
DISC: This is not a buy or sell advice. Only for educational purposes.
NIFTY IT Retesting its 50 EMA levels IT is retesting its 50 EMA area
wil it sustain is the question
Majority of counters like TECHM, PERSISTENT, HCLTECH, NAUKRI etc witnessed a downmove in the week gine by
with result on the way, woul be fun to watch what IT has in store
HCLTECH - Ichimoku BreakoutStock Name - Hcl Technologies Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1257
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
#CloudTrading
#IchimokuCloud
#IchimokuFollowers
#Ichimokuexpert
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HCLTECH Analysis!NSE:HCLTECH Analysis on a Daily Timeframe!
Entry = Above 1775.35
Stop Loss = Below 1144.10
Target = 1203.45
Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4)Don't trade with full capital
HCLTECH BREAKIN TREND LINE RESISTANCEHCLTECH breaks trend line resistance
trading above 20 ema
huge volume
#target 1360
educational idea only
HCLTECH has gone weak. Can show 1100 levelsNSE:HCLTECH is looking weak to me. Now it can show 1100 levels if it does not take support.
persistent MONTH FRAME analysisStock on month frame is in uptrend
strongly defended its base area
its a breakout candidate after consolidation
stop loss to reward is healthy
HCLTECH makes a significant breakout.Over the last 10 months HCL TECHNOLOGY has shown a remarkable upward trend, consolidating into decent triangular pattern. Last week it breached its trend line and indicating a good potential move. If the market remains Bullish, there is strong possibility this will outperform.
If market favors, this stock is more likely to show a decent move as it is still down by 12% from its all time high level.
HCLTECH can show good bounce till 1150NSE:HCLTECH can show a good bounce till 1150 from this level. We’ve seen happening this almost 3 times.
HCLTECH is ready for 1200 levelsNSE:HCLTECH is ready for 1200 levels as it has given a good breakout and sustained it.
HCL Breakout & Retest PatternOn the daily chart of HCL Technologies, we can observe a strong breakout above a resistance zone that was tested multiple times. Following the breakout, the price has pulled back to the flip zone, presenting a potential swing trading opportunity.
For an entry, it is advisable to wait for the close of a strong bullish candle near the flip zone before going long. This will help to confirm the bullish momentum and reduce the risk of a false breakout.
Regarding the stop loss, it is recommended to place it below the flip zone to limit potential losses if the price does not follow through with the expected bullish movement.
Regarding the target, it would be prudent to aim for the next resistance zone, as marked on the chart. This area represents a potential area of profit-taking and could stall the upward momentum of the price.
Thank you for reading. Please consider liking and following me for more trading insights.
HCLTech looks bullish above 1157Buy HCLTech above 1157, Target 1189 - 1200 and SL of 1133, Short term trade. Reason for trade, Price has taken rejection 5 times from supply zone (see the chart supply zone - 1148 to 1156). Once breakout above supply zone, we can see target of 1189.
Please Note I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
HCL Tech Breakout setupIn today's trading session, HCL tech gave the breakout of the resistance line. We can see a consolidation before a breakout. it is a single that this breakout can sustain above the breakout zone. Let's see the game.
Disclaimer - I am not a SEBI-registered technical analyst and advisor so contact your financial advisor and make a self-decision. I will not be responsible for any profit and loss
HCL Tech - Pullback post breakoutNote: This is for educational purpose only. Please do not trade based on this. I am not a registered SEBI professional. These are just views for study purpose.
There seems to be a pullback post break out in HCL Tech. Moreover, the RSI and Relative strength is in bullish zone. There is a build up near resistance as well.
SL: 1100
