HCL TECH | ANALYSISLooks good for a quick option.
Take trade as per the values given in Fibonacci. always trail the stop loss. do your own analysis before taking trade
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HCLTECH trade ideas
HCL TECH - DARVAS BOX BREAKOUT SOONAs you see the price it is struck inside the rectangular darvax box pattern as same as Nifty IT index.
Nifty IT index has made breakout the resistance and hit ATH, the same way we are expecting the HCL also break the upper resistance and enter into uncharted territory soon
Channel Movement of PriceHCL Technologies Ltd showing consolidated channel movement between the Support and Resistance Zones... Stock likely to reach the Resistance in a short time frame. There is a possibility to breach the Resistance and rise further. I'd definitely be long on this stock. Minimum Targets to reach 1050+.
Consult your own advisore before investing
HCL TECH - Trade Setup (Monday)The stock is in consolidation phase, where a swing trade setup is been spotted on the daily chart.
The price action firstly made a double bottom on the previous support indicating buyers strong hold on that price range, indicative of buyers buying at support again to swing the prices up. Hence providing a low risk swing trade setup on daily chart.
T1- 950 I SL - 920 I Duration: 1-3 days
T2 - 970 SL - It may vary depending on the correction once T1 is achieved
T3 - 990 I SL - It may vary depending on the correction that will happen once T2 is achieved
HCL Future Trading:
1 Lot - 700
Margin - 1.5 Lac
T1 - Profit 14K (10%)
SL - Loss 7K (5%)
HCL Tech - 8% upsideHCL tech taken support on 44 DMA
I have entered trade. Will not book stop loss, if it hits, rather will either hold or average, depending on situation
Company needs no introduction, it has great fundamentals. IT sector has gone sideways since Jan, now showing signs on uptrend as covid cases coming down