From Jul'22 low of INR 877 prices have retraced to Fibonacci 61.8% retracment level positioned at 1150 zone and formed a potential double top structure. Prices have also formed a Rounding Top pattern whose neckline is in the region of 1101-1100. The measured target for the pattern is coming in the region of 1050-1045 where its 200-EMA is also positioned
As per...
NSE:HCLTECH , in Daily Timeframe, showing weakness because of:
It's near the demand zone
Created a proper bearish engulfing candle pattern
Weakness is RSI
Volume is supporting the Price movement in a Weekly basis.
On daily Price decreased but Volume also decreased.
Stuck on Symmeterric Triangle.
Inside bar pattern formed.
Will wait for either side to Breakout.
NSE:HCLTECH
#NSE:HCLTECH trading @ Key Support level and good above 935 with as 925 SL.
Medium to long term, chances to continue fall if BD 890 level.
Happy LEarning !!
HCL Tech looks weak below 1115 for the lower marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
HCL Tech looks weak below 1157, sell if sustains below this level for the lower marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
HCLTECH 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%
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Upward Channel is broken on the downside with a bearish engulfing candle
Close below the channel
support of 100 MA broken
MACD gives a negative sign
Go short
SL 1242
Target 1110
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...
NSE:HCLTECH
Observations:
1) On Daily time frame, It just closed at 10DMA.
10DMA is placed at 1172.09 level range. If it sustain above it then we can see an upmove.
Please refer below chart : 1 day Time Frame.
1200 level is major breakout level.
1180 is immediate resistance.
Please refer below chart : 1 day Time Frame.
3) On 15min time frame,...
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.
...
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
HCL Tech is approaching its supply zone. Looks like a good candidate to short at 1020 levels with a Stoploss of around 1040. Safe players can buy put options once the trend line is broken down. May see some movement within 2 weeks.
A descending triangle with an over valued price is a deadly combo. Short your stocks would be the ideal move right now and book profits. Fresh entry can be made only when it bounces off 799 levels. The momentum is fading and the volumes are also declining.
It is having an uncanny resemblance with BTC USDT chart doing a saw tooth pattern.
Risk-o-meter...
![HCLTECH: Simple Trade Setup | HCLTECH | 15-11-2021 [ INTRADAY]](https://s3.tradingview.com/x/Xnz5ZxLT_mid.png "Simple Trade Setup | HCLTECH | 15-11-2021 [ INTRADAY]")
