Best buy zones for #Bottomfishing in #HCLTechnologies Good Buy Zone: 950 - 1073
Best Buy Zone: 805 - 950
Add on bounce, not while it is falling.
Long Term Portfolio Stock.
Tracking Quantity can be taken at CMP. (Tracking Quantity : Suppose you want to Invest Rs.X in a particular stock. The amount between Rs.X/5 or Rs.X/10 would be tracking quantity) (‘Tracking Quantity’ of a stock in your portfolio will help you keep a track of the stock if it is coming in the indicated buying zones.)(Sometimes Out of sight goes out of mind so buying tracking quantity of stocks that you want to add in future helps.)
HCLTECH trade ideas
HCLTECH LONGHcltech bounced back from a huge support zone. Tracking this stock from few days back but forgot to update it..
Still good time to enter this stock with decent returns.
Trade safe. Manage risk. Be profitable.
Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
Double top in HCLTECHWe are witnessing a double top in NSE:HCLTECH . It gave a breakdown on 27th Jan but on 28th price recovered a bit (as of writing this). If price fails to move up much from here and gives a close below the neckline again then it could be a good shorting opportunity for nearly 20% down move as per the height of double top formation. Keep an eye!
Double Top pattern forming on HCL (big Indian IT company)HCL TECH is a big Indian IT firm, which like all IT firms have started falling off cliffs. There is a double top pattern formed on the weekly as well as daily timeframes, and there is confirmation as the price dropped below the neckline with significant volumes.
Trade Cup and Handle Patterns- Ready to breakout with hot teaA bullish breakout, signaling a continuation of the prior bullish trend, occurs when the handle breaks above the upper trendline of the handle, which is typically below the resistance line set by the right side of the cup. The breakout should occur on high trading volume and continue above the trendline drawn from the left to the right side of the cup to provide confirmation. However, if the right side of the cup is well below the left side, it is prudent to wait until the handle breaks above the level of the left side of the cup before committing to the breakout and anticipated continuation.
HCLTECH - Bullish Head & Shoulder - Intraday/Short term tradeThe analysis is done on 15 min TF hence price may take a couple of days or more in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.