This Is A Pure Technical Analysis Of hcltech
1)The Stock Has Taken An Amazing Support At Fibonacci Retracement Of 50% In Weekly And Daily Time Frame.
2) It Has Been Forming A Really Convincing Cup And Handle Pattern And Currently Trading Above Breakout Of The Pattern.
As We Can See In The 15 Minutes Time Frame Picture (please Check The Numbers Marked On The Picture):-
1) The Stock Has Been Consolidating Above Key Support Zone (acting As Support Zone From August 2021).
2) The Stock Is Forming A Triangle Pattern And This Pattern Has A Win Rate Of Over 70%(as Per Google Research). The Breakout Can Be A Triangle Pattern Breakout And A Range Breakout Hence 2 Confirmations That Bulls Are Strong.
3) The Stock Has Formed A Strong Green Candle(extremely Bullish Candle) And Has Closed In The Upper Part Of The Range Above A Key Level(marked On Chart With Yellow Zone)
4) Let The Stock Take A Hit From Sellers (marked Red Zone) And Then Retrace To Take A Support. We Will Enter At The Breakout Of Most Recent High.
ENTRY : 1144
SL : 1100
TARGET 1 : 1200
TARGET 2 : 1350+
Disclosure : I am not SEBI registered.The information provided here is for education purposes only.I will not be responsible for any of your profit/loss with this channel suggestions.Consult your financial advisor before taking any decisions.
1)The Stock Has Taken An Amazing Support At Fibonacci Retracement Of 50% In Weekly And Daily Time Frame.
2) It Has Been Forming A Really Convincing Cup And Handle Pattern And Currently Trading Above Breakout Of The Pattern.
As We Can See In The 15 Minutes Time Frame Picture (please Check The Numbers Marked On The Picture):-
1) The Stock Has Been Consolidating Above Key Support Zone (acting As Support Zone From August 2021).
2) The Stock Is Forming A Triangle Pattern And This Pattern Has A Win Rate Of Over 70%(as Per Google Research). The Breakout Can Be A Triangle Pattern Breakout And A Range Breakout Hence 2 Confirmations That Bulls Are Strong.
3) The Stock Has Formed A Strong Green Candle(extremely Bullish Candle) And Has Closed In The Upper Part Of The Range Above A Key Level(marked On Chart With Yellow Zone)
4) Let The Stock Take A Hit From Sellers (marked Red Zone) And Then Retrace To Take A Support. We Will Enter At The Breakout Of Most Recent High.
ENTRY : 1144
SL : 1100
TARGET 1 : 1200
TARGET 2 : 1350+
Disclosure : I am not SEBI registered.The information provided here is for education purposes only.I will not be responsible for any of your profit/loss with this channel suggestions.Consult your financial advisor before taking any decisions.