Possible swing tradeThe stock has taken support from it's strong S/R zone and made a bullish engulfing candle.
One can buy above 938.5 level for further upmove. For long term investors this can be a good level to accumulate this stock.
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management.
I always encourage partial booking 1-2% profits and use a strict trailing stop loss.
Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr . Tanya Kumar
HCLTECH trade ideas
[Positional] HCLTECH Long IdeaHCLTECH has been trading in the narrow channel range from almost last 6 months. The Channel was a descending channel. HCLTECH Was trying to break the channel from last few days- it was trading very little above the edge of the channel. Today HCLTECH has convincingly broken the channel.
Once can LONG HCL with below details:-
Entry:- 980-982 (Trade can be taken now)
SL:- 913 (Ideally the SL should have been placed at 880-881 range i.e. the channel low, but am placing the SL at the mid of channel)
Target:-
T1- 1053
T2- 1116
T3- 1213
Target can be achieved within next 4-6 months.
Cheers,
Santosh
[Intraday] HCL tech short tradeon 15 minute timeframe hcl tech made double top pattern on major price level and if it break 762 price level down side then we can see sharp selling till 955. with the 4-6 rupee stoploss we can plan 2:1 trade as given below.
HCL tech
15 minute, selling
sell after 962
target 955
stoploss 4-6
HCLTECH Strong breakout on daily timeframeHCLTECH looks super bullish and can be bought as a swing trade for the upcoming 3-4 months and a target of around 15-20% can be expected given that the overall market remains bullish.
Even when Nifty IT was performing low, HCLTECH held its ground and today it has finally given a breakout from its channel pattern.
The breakout can be confirmed with volumes and the breakout from the last resistance level and further from the breakout of 50 EMA.
The trade can be sufficed as -
Entry above Rs. 980.00
Stoploss - Rs.940.00
Targets - Rs. 1068 / Rs. 1133 / Rs.1214
HCL Tech - Pattern breakout ?HCL pattern breakout
Buy with stoploss 960
Target - 981, 992, 1005
DISCLAIMER :
This idea is for educational purpose, buy/sell as per your risk management.
I always recommend to book 50% of the quantity at target 1 and keep trailling stoploss for remaining targets.
Maintain strict stoploss to minimize loss.
Idea is positional and only carry position on day closing basis.
HLCTECH "Wedge Pattern"HLCTECH "Wedge Pattern"
The above chart of HCLTECH laid out the Descending Broadening Wedge Pattern.
Currently, HCLTECH is in the range of Rs 950 , If the pattern continues, the price of HCLTECH might reach the resistance levels of Rs 1000. If the trend reverses, then the price of HCLTECH may fall to Rs 940
Short Note :
Buy Level : 960
Target : 1000-1030
Stop Loss : 940
Happy Trading $$$