HCL TECH Long HCL TECH Resistance @1194-1200 zone SL1193 DCB (Daily closing basis) TP=1227, 1262++ As you ca see wave analysis wave 1,2, 3 completed now it will give BO and touch 1227, 1240 and come back to 1200 and move towards 1262++ for final TP. also along with it look like Harmonic pattern buy above B point @1194 for TP=1227, 1262++ #Robinhood Investment. ( I am just a BOT trader 😄)
HCLTECH trade ideas
Intraday trade : watch for resistance breakoutbuy above 1200 in intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If gapup is more than 1% from bo level than avoid completely.
if less than 1% or gives bo before 9:20 than wait for
first 5 minute candle and entry above 5 minute candle
and revised SL below candle Low.
HCL TechnologiesCurrently the stock has discounted 14% from all time high levels.
HCL (Daily):
1. Stock constantly took support at major demand zone around 1098 levels
2. Stock is making Double Bottom
3. Positive crossover of 5, 13 Daily Exponential Moving Average
4. Bounced back from 200 Days Exponential Moving Average
5. Good buying volumes
View Point:
1. If the stock sustains above 1200 (Breakout of Double Bottom), target of 1320 can be seen.
Addl Points:
1. FII/FPI have decreased holdings from 22.30% to 20.43% in Dec 2021 qtr
2. Mutual Funds have increased holdings from 7.84% to 8.95% in Dec 2021 qtr.
Notes:
1. The above analysis is just for educational purpose.
HCL Long time frame view Educational purpose only : 1210 level decide market rally or bear . This 1210 level strong resistance level it is a turning point of HCL Tech. I am updating similar time frame correction here. Updates.
But long time frame wave analysis market in Corrective wave. Coming days unfolding what happens right or alternate wave counts...
[ INTRADAY ] HCLTECH LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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HCL TECH BULLISHExpecting bullishness in #HCL_TECH in the short term untill it breaks and open & close candle formed below 1060 levels.At the same time Indian IT index took support around first level retracement area and its moving upside.Even though all looking good still Ukraine-Russia crisis hearing in our ears,so we should act according to global cues(Taking decision according to global cues is only for swing and short term trades).So as i always say whatever we do,must follow risk reward and money management.
For longterm its just a beauty to add on dips. Have a good trade.
ASCENDING TRIANGLE BREAKOUTHCLTECH is making ascending triangle in 15 minutes time-frame after up move starting after 1080. In coming days probably it will break this triangle and will give very good movement.
Our entry will be above 1170. Let one 5 minute candle close above this leval.
Stop loss will be 10 rupees and target is 1195.
It will probably take resistance at 1200.