NSE:HCLTECH - short term trade
Green Line is a good resistance on the daily TF too.
Blue Lines are the upward channel that's forming.
Watch out for these and trade when a clear trend emerges.
Will update the idea if I find one.
Comments and opinions are welcomed.
Beautiful Harmonic 3 Drive Pattern Reversal offers good opportunity to short the stock at current level. Mostly the pattern works and rewards with reasonable profit. Good Luck
as we can see the morning star signal at the support area of 785 and bullish engulfing pattern there
personally i would like to go long on that stock and let it cross 8 ema
HCL TECH has formed triangle pattern it has mad to swing 860 and 835.
if this stock give close above 835 we can buy for the target of next swing 860.
if this swing 860 is break on closing basis then good for buyer
enjoy this trade
It is been observed on hourly chart, that the price action breaks below descending triangle pattern, indicating a bearish move to support levels ahead.
Target: 740
Stoploss: 770
HCL Technologies has been trading in bearish channel from several week after a false break it continued in downward direction, we may see further down ward in this stock as it is approaching to its channel support which is targeted at 720.00 in near term. Risky traders may enter short at CMP,conservative traders may wait for some upside movement if market go green...
HCLTECH is giving a potential Buy Setup!! The Zig Zag Correction seems to be over with today's low made around 730 levels. I would expect the stock to go higher from here and breakout of the corrective channel that it has been in from long time. My stoploss is around 725 levels and First Targets around 950 level and above.
Happy Trading!!
The stock is offering a good buying opportunity at the current level. It is trading at a demand zone from where buyers find it cheap and enters. Very small risk at the low of the current bar. It could give a decent return in coming days,
HCLTECH closed above the crucical monthly resistance of 801. looks good for longs.
Entry is averaged around 805.. assuming one part here and next around 801
CMP 809.. add more near 801
SL 792
Tgt 830/850
Trade type: Support resistance Trade
Aggressive Entry 805
Conservative Entry 805
Aggressive StopLoss 792
Conservative Stoploss 792
Aggressive RoR...
