HCL Tech - LongStock has formed a double bottom formation and has reversed. Looks good for going long. Sector has also been underperforming for some time now
HCLTECH trade ideas
START OF NEW NEO IMPULSE WAVE.GET LONGPRICE BREAKOUT IN TODAYS TRADING SESSION @ 916
ALSO PRICE HAS MULTIPLE SUPPORT AROUND 900-905 AREA
TODAY'S MOVE SUGGESTING END OF AN CORRECTION AND START OF NEW IMPULSE.
BREAKOUT IS ALSO ACCOMPANIED BY MACD REVERSAL
EXTREMELY FAVORABLE RISK-REWARD RATIO FROM CURRENT PRICE.
LONG @ CMP OF 931 AND ADD IF PRICE COMES @ 916
STOP LOSS OF 904 ON CLOSING BASIS
TARGET 1050.
TIME FRAME-1 MONTH.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
HCLTECH 10 % PROFIT EXPECTINGHCLTECH took support and it is now going up. Expect a profit near 10 percent.
SWING HCLHope this trade will give me some profit...
If you also taken the same trade, please hit the like button...
Rounding bottom Breakout in HCL techStock has made rounding bottom right at support levels after big correction. Targets Rs 1040, SL Rs 890 , Time frame- 1-2 months.
HCLTECH LONGA decisive break below 912, price might further move up to 928/938
SL : 901
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position
HCL Tech weekly demand zoneLast we seen after touch of 200 EMA from July to Jamuray stock has bullish.
Now again near to 200 EMA.
Bounce/sustain from weekly demand zone.
Entry should be between - 893-886
according 1:2 trade can be manage.
Entry-893
SL-871
Target - 980
Swing or Positional Opportunity in Hcl TechnologiesGo Long above 912.1 for Targets of 927.7, 943.25, 958.85, 974.5, 990.15, 1005.65, and 1021.25 with SL 896.5
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. A bullish candlestick pattern, Bullish Hammer (marked with an orange circle) is formed at 0.618 Fibonacci level.
3. Also there is a Demand Zone (marked with a green rectangle ) around 0.618 Fibonacci level from which the stock is taking support and moving up.
4. Also the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.618 Fibonacci level.
HCL TECH DOUBLE TOP WITH DOOR STEP AT THE NECKLINEAS WE OBSERVE DOUBLE TOP ON HCL TECH IF TRADED BELOW THE NECKLINE AND BELOW 895 WE CAN SELL FOR 1ST TARGET-850,2ND TARGET-800 WITH 1ST STOP LOSS AT NECKLINE 910 AND 2ND STOP LOSS OF 925
reversalnice reversal around 900. now the resistance is 922 after that it may go around 970/1000 with the support of 900.
HCLTECH890 is the major support of the stock ..watch this level whereas 915 is working as resistance
HCL Buy 980CE May expiryHCL consolidated in Range of 892 to 923 for 10 Days i.e., for 2 weeks, on 14-05-2021, day candle closed bullish Pattern.
If it breaks it touches 980/- next Resistance, 892/- is acting as strong support.
HCL lot size 700 , 980CE trading at 5/- amount to be invested 3,500/-
if analysis goes wrong can have strict stop loss of 2.50/-
Right now Hcl is in Range of 892/- to 1063/- for last 139 Days.
as per max pain theory expiry strike is 910.
HCLTECH- NEUTRALHCL TECH Movement depends on the Monday market ( Nifty) movement.
Disclaimer - Only for educational purpose.
Keep an eye on HCL TECH.NSE:HCLTECH is trading near an important level which worked as its strong support in the past. Even on a bearish trading session of 14th May it recovered and closed above that level. On upcoming session, If it breaks this support, we can see a big fall or This level can be the U turn and we can see new higher levels.
Please please let me know your thoughts in the comments as I am new to to technical analysis and still learing.
