Trade ideas
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
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 😄)
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...






















