Upside expected till 920~930 (convergence of Fib 1.27 and Fib 1.61 level). Then a further breakout will generate a long signal. Reversal from the point may see downside of 850.
Trade not active.
IT industry has been in a bearish tone forming lower high - lower low since Q2-2015. The industry is under pressure with margins and visas followed by blow of Rupee appreciation.
For short term, 9,880-9,900 stands to be crucial support. The reverse Bullish AB=CD around 9,900 at rising trend line indicates reversal on cards. As per time analysis, the previous rise...
NSE:HCLTECH - short term trade
Green Line is a good resistance on the daily TF too.
Blue Lines are the upward channel that's forming.
Watch out for these and trade when a clear trend emerges.
Will update the idea if I find one.
Comments and opinions are welcomed.
Beautiful Harmonic 3 Drive Pattern Reversal offers good opportunity to short the stock at current level. Mostly the pattern works and rewards with reasonable profit. Good Luck
HCL TECH has formed triangle pattern it has mad to swing 860 and 835.
if this stock give close above 835 we can buy for the target of next swing 860.
if this swing 860 is break on closing basis then good for buyer
enjoy this trade
HCL Technologies has been trading in bearish channel from several week after a false break it continued in downward direction, we may see further down ward in this stock as it is approaching to its channel support which is targeted at 720.00 in near term. Risky traders may enter short at CMP,conservative traders may wait for some upside movement if market go green...
HCLTECH is giving a potential Buy Setup!! The Zig Zag Correction seems to be over with today's low made around 730 levels. I would expect the stock to go higher from here and breakout of the corrective channel that it has been in from long time. My stoploss is around 725 levels and First Targets around 950 level and above.
Happy Trading!!
The stock is offering a good buying opportunity at the current level. It is trading at a demand zone from where buyers find it cheap and enters. Very small risk at the low of the current bar. It could give a decent return in coming days,
