AdityaKarn90

HCLTECH - Cup & Handle Breakout - New Life-time high possible?

Long
NSE:HCLTECH   HCL TECHNOLOGIES
The above analysis is done purely on basis of Price Action & Chart Patterns.

The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.

Trade setup is explained in image itself.

The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.

Feel Free to comment or message me for any query or suggestion regarding this stock or Price Action Analysis.

Checkout my other ideas to understand how one can earn from stock markets with simple trade setups.

Comments

timeframe can we expect first target in June month or we can see some consolidation from here
Reply
@Shivalay well first of all let me tell you that in technical analysis we don't analyse time. so predicting time is just assumption and equal to timing the market. and there is no fool proof way of doing that..
coming to your question, I believe given the set up in other IT stocks as well, it may reach that level quickly, within couple of weeks.
but again I would like to mention that it's simply assumption.
+7 Reply
ritu14 AdityaKarn90
@AdityaKarn90, June has gone by, Half of July, HCL is stuck in 900-1000 range. Its not breaking out like Infosys and TCS.
Reply
@ritu14, Patience is the key to make money. I have been re-iterating this thing infinite number of times. Share prices won't move just because of our wish or because we have entered. It will move as per its own plan.

Eventually, the price has broken two out of three target levels in just one day (today).
Hope you had kept patience and made some good money
Reply
ritu14 AdityaKarn90
@AdityaKarn90, I made good money in HCL 6 times in last one year :) due to my proactiveness. It was a short on thursday ane hence again falled back to 1000 level.
Reply
ritu14 ritu14
@ritu14, Fallen back. Typo!
Reply