HCLTECH has had a phenomenal run from ₹12.9 in September 2001 to ₹2,012.2 earlier this month, a growth of ~15,500% in 279 months, averaging 40% annually.
But is it all about to end? 5/35 MACD, which I love to use to validate my EW count is showing a massive divergence on the weekly charts combined with a big high-volume engulfing bar concurrently taking shape. I can also count clear 5 waves on the monthly charts.
Based on my calculations, I can see two targets on the downside: 1418 and 970.
Do share your opinions below.
Best!
Trade active
Yesterday's (07.04.2025) low of ₹1302 is below the first target of 1418 🎯. Now on to the next...
― AKG
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― AKG
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.