HCL DOUBLE TOP + 200 MA BREAKDOWNHCLTECH fell with every other I,T giant like wipro & techm but it looks more bearish from here on.
All analysis is explained in the chart above.
Short below - 1045
Targets will be 3%, 5% & 10%
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
HCLTECH
Trend Support - Will it sustain and bounce?I am not sure about taking a long position, given the weak market outlook.
Just sharing a few stocks I am keeping a track of which have reached their trendline support and might be a good time to accumulate in piecemeal.
Not an Investment Advice. I am just curious to see how it plays out.
HCLTECHNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3. Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks...
Keep an eye ladies and gentlemen. Cheers and Happy Trading
HCL - Previous Trend line Resistance acted as support1. Previous Trend line Resistance acted as support
2. Now on Short Covering zone
3. Breakout Entry - Daily Open & close above 1196 (or) Weekly Open & Close above 1185
4. Retest Entry Zone (1120 - 1132)
5. Stop lose - Below 1090 - Weekly close (or) Daily open & close
📊 HCL Technologies Target 🎯NSE:HCLTECH
As One can see bearish Harmonic pattern on HCL Technologies stock chart we are using this pattern for target first and then if we find resistance or reversal sign at PRZ then after such conformation we could go short as well.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
HCL -Time to GO Long.NSE:HCLTECH
HCL is time to Go long for the Following :
1) Gap Up on Friday.
2) Net Volume Up.
3) Supertrend Positive
4) RSI indicating Long Position.
Keep trailing Stoploss at the moving Blue Line of Super Trend or you can get out of position when RSI Comes down and Cuts below Yellow Mean Line.
If INR 1367 is beaten, it can move further up. Be careful around that level.
For Educational Purposes only. The author is not responsible for Financial Losses.
HCL looks very bullish - buying opportunityHCL has very positive momentum
RSI above ~50
Forming a cup pattern, entry can be made between 1200-1222 level
Breakout already done, Re-test can be expected on support level 1200 which was pervious resistance.
Targets are mentioned in the chart and chart is self explanatory.
Great chart setup.
Disclaimer: This is for educational purpose, pls invest as per your analysis and risk-reward.
Trend Analysis - Bounce from SupportHCL Tech is one of the leading IT companies quite similar to Wipro and Infosys.
It seems it has reached the trendline support and shown a healthy bounce of 4% in 4 days
The share dragged because of lower than expected quarterly earnings and PE wise, it is trading at 27 while TCS, Infosys and Wipro are between 34-36 region.
TCS has made a similar pattern as well and it will be interesting to see how these 2 shares pan out in the coming days.
I don't expect any impulsive move but slow and steady upside move.