There are multiple bearish patterns in HCLTECH chart:
1. It made a double top pattern but zone 1 acted strong and it gave a bounce and made a lower swing high.
2. It has given a breakdown of it's 18 month old lower strong support trendline and kept consolidating in zone 1 after the breakdown.
3. Yesterday it got rejected from the trendline and 20 EMA and today it has finally broken down from zone 1 as well
Sell below 1000 level for Target 1: 970, Target 2: 940 and Target 3: 910
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr. Tanya Kumar
1. It made a double top pattern but zone 1 acted strong and it gave a bounce and made a lower swing high.
2. It has given a breakdown of it's 18 month old lower strong support trendline and kept consolidating in zone 1 after the breakdown.
3. Yesterday it got rejected from the trendline and 20 EMA and today it has finally broken down from zone 1 as well
Sell below 1000 level for Target 1: 970, Target 2: 940 and Target 3: 910
Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis.
Learn & earn,
Dr. Tanya Kumar
For high probable swing picks, join t.me/EquityResearch_PAC_bot
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All Ideas posted by me are for Educational Purpose.
TG channel t.me/priceactionchart
My TG ID @tanya151181
Course details:
tinyurl.com/PAC2COURSE
All Ideas posted by me are for Educational Purpose.