HCLTECH trade ideas
HCL Tech Daily Chart Study and observationsStock is holding up firmly at higher levels. We have 3 inside candles during the last four trading sessions. RSI is facing resistance around 60 and price is facing resistance around 1290. Overall structure is still bullish and once it manages to cross hurdle around 1290 we may see stong follow up on the upside.
HCLTECH - aggressive short covering 30-10-2023HCLTECH is an interesting chart with following reasons
1. ABCD pattern under formation
2. Price Crossed above 20 day SMA
3. Narrowing Bollinger Bands and price trading near upper Bollinger Band
4. On Weekly chart it formed a breakout of CUP pattern and is sustaining above breakout level after testing the same.
5. RSI on all time frames (daily/ Weekly/ Monthly) strong bullish above 60 or near 60
6. As per Fib Projections next resistance can be 1278- 1303 - 1330 levels
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix
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Disclaimer:
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HCL Tech Hourly breakout structureHCL Tech Long candidate
Buy above 1256
Targets of 1268 / 1288
With SL below 1249
Trade Setup
>Reversing from 0.5 Fib retracement of the recent rally.
>Good consolidation range from recent few days.
>Hourly Bullish engulfing with good volume support.
>Hourly RSI and MACD forming Divergence
>Results on 11 Oct, can trigger as a catalyst for bullish momentum.
>Nifty IT is looking bullish as well.
(For educational purpose only)
HCLTECH - Where is HCLTECH?1. I have taken the length(Complete candle(body range and wicks)) of the DOJI(marked as 'D') and placed exactly at the top of the candle, which likely become a destination for the price in this move.
2. As the price has already hit(2Xlength of the DOJI), it may take U turn and take a support at 1270 or 1254. I see, there is no volume at 1270, so it hit 1254.
Note: As RSI is around 71, expect the price fall with minimum speed and not ready for SHORT. Short can perform only if the price closes below 1275.
Please refer Yellow color candle(Engulfing formed between two red candles).
HCL TECH*HCL Tech*
Time Frame - weekly
Study -
-- After long run profit booking seen
-- After profit booking reversal seen
-- After reversal again profit booking seen
-- No consolidation going on, Kind of Symmetrical triangle pattern seen
Above 1100 looks good
This chart is only for educational purpose do your own study before taking any trades
HCLTECH - Ichimoku BreakoutStock Name - Hcl Technologies Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 1257
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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HCLTECH Analysis!NSE:HCLTECH Analysis on a Daily Timeframe!
Entry = Above 1775.35
Stop Loss = Below 1144.10
Target = 1203.45
Disclaimer = All my analysis is for Educational Purposes only. Before entering into any trade -
1) Educate Yourself
2) Do your research and analysis
3) Define your Risk to Reward ratio
4)Don't trade with full capital