HCLTECH trade ideas
HCLTECH continues to see large delivery positions. EOD : 56.67%- HCLTECH continues to see large delivery positions.
- Best Time for Buy & Hold.
- Delivery Position (30-APR-2021 EOD) : 56.67%
To motivate me, Please like the idea and follow If you agree with the analysis.
Happy & Safe Trading!
Vijay Singh
HCL Technologies Short Term Target HCL Tech is a great company but considering its Book Value of 160, and the external crisis, The Prices are pretty overvalued in my POV. However, there is a bit of a chance of reversal and bounceback in the stock price, resulting in HCL breaking 1000 Rupee ATH, the chances of a bullish breakout are less compared to a bearish breakout.
Lets learn FIB together - HCLGot introduced to this instrument super recently, trying to practice FIB projects, its stunning how these level are overlapping. it seems very convenient to project on historic charts, this is an attempt to track new movements. lets see if we get a confirmation on 936 or 923
Inverted Triangles and Megaphone Patterns , Discretion advicedLOOKS LIKE Inverted Triangle and Megaphone Pattern is in the making In such kind of pattern one can see new high and new lows so you can think of those megaphones or bull horns kind of patter. Under which making new high constantly new lows constantly pattern kind of widening out
This pattern itself is very hard to find they don’t setup that often , you can see depending on the timeframe once a week once a month , may be once a year if you are looking at the big time frame so they don’t happen very often but when they do they are very very powerful , so the big thing behind is we need to see the actual price action setup meaning that we need a two highs and two lows so that we can connect together so in this case we going to have a high and high to low and low that’s the important part of this the more you have the better but you need at least 4 points so once you got that 4 setup then we can look at taking the side of the trades so basically what you want to do is price comes at the either side of low or high , one can become a buyer or seller.
BUY HCLTECH ABOVE 972 TGT 1020 /1055 SL BELOW 925 Scrip looks fine as the dollar is strong and it is looking like it is coming out of consolidation. In the chart, yellow line depicts the resistance point and closing above which indicates buying for the upward blue lines as targets and red line as SL