Cup and handle formation in progress, tgts are very high
the stock has given breakout and seems bullish
At CMP of 843 we can expect 5-8% upmove in a couple of weeks or even 1. Target of 907 SL - 820 Indicators - Trend Line and Stochastic fast crossing over slow
HCLTECH making falling wedge may breakout
It has been respecting its support and resistance. The levels of trading have been mentioned. We can go long if there's a gap up opening or breaks the level with a good momentum. Consolidated between 0.5 & 0.618 and gave a breakout.
Holding above 837 might push towards 850/858/868. Regards
Chart itself spreaks. It can be bought near 800 with sl of 759
In the previous idea, it was suggested that the scrip might move up if sustains above 860, but it opened the gap up and couldn't hold above 860 and collapsed. Now, if sustains the current levels, there is a possibility to move towards mentioned above targets. Link below. Regards
NSE:HCLTECH ON DAILY CHART,FORMED A FLAG PATTERN PRICE IS GOING DOWN ON DECLINING VOLUME.BEARISH CANDLES HAVE SOME VOLUMES THAN BULLISH CANDLES PRICE IS ALSO CURRENTLY TAKING SUPPORT ON TREND LINE NOT CLEAR WHETHER PRICE WILL MOVE HIGHER OR NOT COZ OF VOLUME ACTIVITY INSITE FLAG PATTERN IF INCASE PRICE BREAKS 872.5 ON EXPANDING VOLUME ,THEN BULLISH...
HCLTECH has consolidated with reduced volumes. NSE:HCLTECH A breakout from the consolidation would resume an uptrend which preceded the consolidation.
Buy in the support zone and follow the targets and stop loss given.
Please do your own research before trading or investing.
Price - ₹855 Dt. - 09-11-2020 Price is moving in range between ₹810.55 to ₹905.20. Stock closed in red and took support of 21DEMA. It looks like stock may come near 50DEMA, which is right below the support line. If stock bounces back from support line than it will be a buy signal.
a. Zone: Strong Bull b. Resistance 1: 886.85 c. Resistance 2: 904.05 d. Support 1: 817.95 e. Support 2: 809.30 NSE:HCLTECH
Once gives decisive breakout above 860, it can touch 875/885/895. Regards
HCLTECH gave Trendline breakout and gave closing above it. Crossing 860 level will be good upside move towards 870 levels keep this in watchlist