NSE:HCLTECH
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.
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HCL tech making descending triangle pattern in 15M chart. Breaking this pattern can give a good breakout either side, probability of breakout is upside and i can easily break its previous high of 1072.
Reasons of breakout :
1. It had broke its 1045 level on 5 august which was a resistance and being tested on 15 jan, 8 apri & 25 july.
2. Making a descending...
HCLTECH 1 day Time Frame Analysis
- Price is nicely moving above 200 MA
-Strong Support of 900 levels
- Major Resistance of 1050 levels try to break it 4 times
- Breaking this level can stretch the price up to 1200
- Breakdown of a current trendline can make it touch 1000-900 levels
Swing trade opportunity to long HCL above 1010. Can Trail SL once the stock BO from the resistance area. Cautious area 1015-1020 also to be noticed. All important levels marked on the chart. This is for your educational purpose only.
HCLTECH has been consolidating in the range since the start of the year. It is showing great strenth with great volume on daily and RSI crossing 60 on the weekly after 3 months. Watch out.....
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
:Hi everyone let talk about the chart
in the chart we can see "triple top bottom " and don't depend on it .It can Break the 'Support and Resistance" don't buy or sell quickly be in the patience .
: And don't forget to like, follow and share with your friends
:Have a good trade
NSE:HCLTECH is showing positivity in it's price. The candle has closed above it's 9 DEMA. RSI is also above 50. If NIFTYIT shows positivity tomorrow then it can test again 1000 levels. Waiting to see it at 1050 again.
NSE:HCLTECH is still above 9 day moving average on daily timeframe. It can touch it's resistance levels of 1000-1020 this time. Cross over is also there 9 is above 20. Great sign of bullishness. Fingers crossed.
Looks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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