MARKET ANALYSIS: The pair has reached the channel support zone. If the zone holds on we can expect a high impulse towards the channel resistance. So lets wait and see what the market does in the coming days. Cheers!
Monthly demand in control, too low in the monthly supply and demand range.
Weekly ranging between two opposing imbalances.
Since monthly demand is in control and uptrending, longs at daily demand zones. That long happened already at 760. Daily Demand tested twice and playing out.
Waiting for new areas of demand to go long on HCL Technologies, or lower around 759...
HCLTECH MAKE CUP & HANDLE pattern buy above channel breakout 798 (fib. retrace. 61.80%) stop loss 774 which is below 50% retrace and 34 EMA 1ST TGT 852, 894 AND 945 LONG TERM CALL
Hcl Tech Seems Bottomed out. 3 White (Japan) Soldiers in candle pattern (Marked Rectangle). One can buy at channel breakout above 780+ if Volume supports. RSI now at 54.
Simple Elliot wave formation and we can clearly see that Wave C is yet to form
The trendline marked offers strong support to price and if its broken a good downward move is possible in HCL Technologies Limited. Can bounce up on trendline touch so watch closely.
Check your stops and targets before entering the Trade.
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