The stock is in consolidation phase, where a swing trade setup is been spotted on the daily chart.
The price action firstly made a double bottom on the previous support indicating buyers strong hold on that price range, indicative of buyers buying at support again to swing the prices up. Hence providing a low risk swing trade setup on daily chart.
T1- 950 I SL - 920 I Duration: 1-3 days
T2 - 970 SL - It may vary depending on the correction once T1 is achieved
T3 - 990 I SL - It may vary depending on the correction that will happen once T2 is achieved
HCL Future Trading:
1 Lot - 700
Margin - 1.5 Lac
T1 - Profit 14K (10%)
SL - Loss 7K (5%)
The price action firstly made a double bottom on the previous support indicating buyers strong hold on that price range, indicative of buyers buying at support again to swing the prices up. Hence providing a low risk swing trade setup on daily chart.
T1- 950 I SL - 920 I Duration: 1-3 days
T2 - 970 SL - It may vary depending on the correction once T1 is achieved
T3 - 990 I SL - It may vary depending on the correction that will happen once T2 is achieved
HCL Future Trading:
1 Lot - 700
Margin - 1.5 Lac
T1 - Profit 14K (10%)
SL - Loss 7K (5%)
Note
Today, price action almost touched 950 (T1) now traders who are in the trade setup for T2, shall move up the stoploss from 920 to 930 levels.Trade closed: target reached
Target 2 reachedNote
Swing Traders can book partial profits and continue for T3 with change in SL at 950.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.