HCLTECH trade ideas
HCLTECH WEEKLY CHART 12/01/2024 RESULTS DAYHCLTECH has taken support at 50% level at 876.50. Gann 50% rule at work. Gann said you need to follow only one rule of 50% to make money in the markets.
We are at 12.5% extension of the swing which is 1503.05.
We need to stay above this level for furthet growth.
Happy Trading !!!
HCL Technologies Ltd | A IT Sector Momentum StockHCL Technologies Ltd | A IT Sector Momentum Stock
HCL Tech is a leading global IT services company, which is ranked amongst the top five Indian IT services companies in terms of revenues
Financial :Strong
Market Cap n= 3,96,928 Cr. ROCE = 28.3 % ROE = 23.0 %
Debt to equity = 0.08 Promoter holding = 60.8 % Quick ratio = 2.56
Current ratio = 2.56 Piotroski score = 8.00 Profit Var 3Yrs = 10.2 %
Sales growth 3Years = 12.8 % Return on assets = 16.1 %
HCL Tech is strong fundamental stock with right now in monthly basis have strong momentum.
also all IT sector is in bullish trend .This is ready to going in uncharted territory space.
so we have to closely watch this stock for future.
Note: I am not SEBI registered financial Adviser. I solely present my views on chart .I do not charge any kind of service. This is not buy sell recommendation.
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Another Rally on cards missed Asian Paints here is another one. The stock halted at 50% at 1298. This correction was an indication of strength. It broke out above 1329. The consolidation above the breakout zone is offering an opportunity to buy. Look at the volume on the green candle. Its very positive. Hence its a buy at CMP of 1338 we are looking at 1370
Breakout--Breakout and retest completed
-- flag and pole pattern
--T-1500
Disclaimer:
- The view expressed here is my personal view
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
-- Do your own analysis and consult your financial adviser
A Good Up-Swing Expected in HCLTECHA good short term opportunity has presented itself in HCL Technologies. Stock has shown a good bounce off the 50 DMA with strong volumes. The move is coming on the back of satisfactory results. Nifty IT index is also in a good trending structure. A powerful Bullish Engulfing has formed right at the moving average which gives more confidence to go long.
SL: This is a small risk trade with Stop Loss being right below the Engulfing candle, somewhere around 1199.
Entry: Entries can be made right away at the open of next candle or you can also wait for some retracement for better risk reward ratio.
Target: Target can be ATH of around 1350+
HCLTECH going Big || Time for IT to performHCL TECH has formed cup and handle pattern and it is ready for breakout. Look for volume at the time of breakout that will give confirmation. RRR is very much favourable and looking at market the sentiment is bullish and IT has been underperforming since long hence great chance of IT participation in NIFTY bullish trend.
Entry: 1160 daily closing
Target -: 1380
SL -: 1100
Max RRR -: 1:4
Min RRR -: 1:2
Keep trailing SL after 1:2
HCLTECH AnalysisThis is the long term analysis for HCL Tech.
The stock recently tried to give a breakout from its range.
Here are the details of the analysis-
The stock is expected to be in the range, until the price comes to the trendline support.
The price will take a support from the trendline and grow with it.
The targets are- 1400, 1438 and 1500 from Short term to Long term, respectively.
The stoploss is slightly below the trendline support at 1304.
An amazing stock with brilliant move in the making.
What do you think?
HCL Technologies Ltd#HCLTECH
CMP : ₹. 1364
Date : 09-12-2023
A leading global IT giant having more than 60% promoter holdings with zero promoter pledge and low debt. ROE,ROCE,ROA all fundamental parameters are improving for last two years. After the news that HCL Technologies Ltd intends to establish a chip packing unit in Karnataka with an estimated investment of $400 million ,share prices surged. Stock is now at its 52 week high. Technically also looking good with a breakout in daily charts. The room is now opened to fresh highs. Expecting a possible movement towards 1400 - 1500 and then to 2000 with in a sapan of 3- 9 months. Stoploss @₹.1250 levels.
Disclaimer : Post only for educational purpose. Not a buying / selling recommendation. This is only my personal view. I am not a SEBI registered analyst . Do your own analysis and act accordingly .
HCL TECH# HCL TECH #
BUY ABOVE - 1180
SHORT TERM TG - 1360 - 1370
SHORT TERM CBSL - 1095
LONG TERM TG - 1800
LONG TERM CBSL - 1000
This is not an investment advice and also please note this is only for education purpose.
So before investing any single rupee, please do your own research according to your risk taking capacity and after that do invest and book profits on right time.