Elliott Wave Analysis of HCLTECH: Wave 5 in FocusElliott Wave Analysis of HCLTECH
In this analysis, we will examine the Elliott Wave count of HCL Technologies Limited (HCLTECH) and provide insights into the current wave structure on various time frames. This is purely for educational purposes and should not be taken as investment advice.
Monthly Time Frame:
Bigger Wave I and II: HCLTECH has completed its Bigger wave I and II on the monthly time frame.
Wave III: The stock is currently unfolding wave III on the monthly time frame.
Weekly Time Frame:
Within wave III, we observe weekly counts unfolding as subdivisions in wave ((1)) & ((2)). The stock is currently in wave ((3)).
Inside wave (3), subdivisions as wave 1-2-3 & 4 have been completed.
Daily Time Frame:
We are now possibly unfolding wave 5, which is a subdivision of wave ((3)).
Wave 4: The daily wave 4 has completed its subdivisions as wave ((w)), ((x)), ((y)), ((x)), and ((z)).
Wave ((i)) of 5: If our assumptions are correct, we have started to unfold wave ((i)) of wave 5.
Key Levels and Risk Management:
Invalidation Level : The low of wave 4 is set at 1435, serving as the invalidation level for going long. This is the stop loss level to be mindful of when entering a trade.
Upside Target : Wave 5 could cross above the highs of wave 3, which is the all-time high at 1697, and more.
Insights:
Confirmation of Trend: Watch for a clear breakout and confirmation of trend to validate the start of wave ((i)) of 5.
Caution: As with any investment, caution should be exercised, and risk management is essential.
Market Behavior: Keep an eye on market behavior and patterns as they unfold to validate the count.
This analysis is intended for educational purposes only and should not be considered a trade or investment tip. Always conduct your own analysis and consult with a professional before making any investment decisions.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
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RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
