1> HCL is respecting support zone & trendline zone as well.
2> Take SHORT entry only after breakdown from both the support area .
3> Target = 730 ( downside )
4> Lot size =1400
5> Avoid false breakdown by entering after retracement
6> Descending Triangle Pattern , IF breakout happens then enter after retracement for upside
Guys check out the related ideas as...
Disclaimer: It is my point of view. I will not be responsible for any profit or loss made by the trader. Do take trade on your own responsibility.
Description: HCLTECH Broke the triangle pattern and fall from that level after retesting the same levels, it started falling. The horizontal lines drawn are the support/resistance levels.
go as per the chart
CMP = 832.65
lot size = 1400
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HCL TECH is in PBZ. A green candle is being formed today bouncing from an important zone. If today's' candle is sustained, one can enter long according to the WWL setup. Target should be according to STM method and SL can be below today's candle low.
Please follow these rules before taking a trade :
1. A triangle pattern is visible , so take a trade only why it breaks in the positive side in our direction.
2. Buy at 2nd green candle in 15 min or 5 mins chart frame.
3. Keep a trailing stoploss with Rs 10 in mind.
HCL Technologies is primarily engaged in providing a range of software development services, business process outsourcing services and IT infrastructure services. The company has generated EPS of Rs 10.80 during Q1FY21 as against full year EPS of Rs 40.73 which is ~26% of full year EPS. Considering the Covid lockdown the performance during Q1FY21 was good. The...
With Indian IT sector looking strong, there are a few potential opportunities . HCLTECH is one. This seems to have formed a triangle within a triangle , where wave e itself is a triangle.
As per my view Hcltech is near breakout above 840 and also buy above 840
Its first target is 880
and second target is 910
Hcltech is good consolidation in this range
Resistance at 850 levels.
Sell 850CE, CMP - 23.
Lot Size - 1400
Max Profit - 32,200
Loss only if expires above 873.
Or exit once Stock is closes above 850.
Theta is around 70, there are high chances if stock doesn't closes above 830 in next five session. Premium will be below 820.
Will do adjustments if required, for now buying it as a naked CE short.
