"HCL Technology: Bullish Reversal with Inverted Head & Shoulder"Description:
HCL Technologies (HCL Tech) has formed a visually striking bullish head and shoulders pattern on the price chart, indicating a potential upward trend. Traders and investors may find this setup appealing for potential trading opportunities
Key Points:
- Pattern Type: The pattern observed in HCL Tech's chart is a bullish head and shoulders pattern, which is a reliable trend reversal formation.
- Entry Range: Consider entering the trade within the range of 1160 to 1175 for optimal risk management and potential profit capture.
- Stop Loss: To safeguard against adverse price movements, set a closing basis stop loss at 1100.
- Target Levels: The price targets for this bullish setup are 1360 and 1470, offering significant upside potential.
Disclaimer:
Please note that trading and investing involve risks, and it's essential to conduct your own analysis and consider market conditions before making any trading decisions.
Hcltechview
HCL Tech - Pullback post breakoutNote: This is for educational purpose only. Please do not trade based on this. I am not a registered SEBI professional. These are just views for study purpose.
There seems to be a pullback post break out in HCL Tech. Moreover, the RSI and Relative strength is in bullish zone. There is a build up near resistance as well.
SL: 1100
HCl Tech Looking good above 1152Hcl Tech Breakout 1152,
Buy above 1155 two closing need in 1day
chart for more confirmation
Sl 1120 Closing Basis
Target 1340
HCLTECH - Possible Swing TradeDaily chart: If we look at the daily time frame, we can see that the stock is trading above the 50 and 200 moving averages.
You may also notice that the stock is currently trading in a very strong zone since January 2021, which is about two years.
75-Minute Chart: if we look at the 75-minute chart, we can see that the stock has broken the rectangle &retested the breakout.
currently trading below the 200EMA and trading in the strong zone that we mentioned earlier.
If the zone and 200 EMA were broken with a bullish candle, we might consider planning a buy entry.
We can see a gap on the chart, so if a buy entry occurs, we can set our target price below the resistance area that is located exactly at the gap.
On the chart, I have noted targets 1 and 2, and a stop loss should be placed below the strong zone.
"Wave Volume Divergence" indicator has also given us a buy signal, must try this indicator for confirmation.
I hope this analysis was helpful to you. If so, I would appreciate it if you would like it and follow me on TradingView for more of these kinds of analysis.
Disclaimer : Simply an educational post, I am not a SEBI-registered person.
HCLTECH LEVELS FOR MONDAY - 24-10-2022Important HCLTECH Levels ( Support & Resistance ) for Monday Market- 24-10-2022.
HCL Tech flag and pole patternOn a daily time frame, the stock after a bull Run has been consolidating.
The flag and pole pattern is a bullish pattern and once it breaks out of the parallel channel it will give good targets.
Support :- 1150, 1138
Resistance:- 1223, 1254
Wait for the break out of the parallel channel
