• Bullish Gartley harmonic pattern is forming (gets confirmed if price goes and stays below 1254)
• Price below 13 EMA ready to touch 50 EMA
• Price is below 0.236 retracements levels
• RSI falling
What can happen next :
Scenario 1 : Price sustaining above 1265 levels can take it to 1285/1335/1365/1400 levels
Scenario 2 : Price break...
A Head & Shoulder Patter formation can be seen on HCLTECH 1 HR Chart. A short opportunity can be seen in HCL Tech if it sustains below the neckline as mentioned in the picture. Will wait for a 15 min candle to give closing below the neckline. Target seem nice for intraday & short swing trade.
Levels are : Neckline : 1255, Targets : 1230 & 1215.
Please let me know...
As it is going contunous bullish and all time high Im expecting a reversal or retrace at thse levels bottom retest levels are 1250, 1240 and swing low at 1230. by any chance it can go and touch 1300 and then reverse
Trade Setup for Date 03-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow.
NSE:HCLTECH has been closing around 1150-1160 for some days. It might feel some resistance here and need a good big candle with volumes to cross this level. Or it might happen that it retraces back to 1100 levels and then go back to these levels.