🔥 HCLTECH Approaching Major Breakout – Cup-and-Handle Structure + Strong Fundamentals!

📌 Technical + Price-Action Analysis 1️⃣ Elliott Wave Structure The current move appears to be the start of Wave 3, developing after a clean Wave 1 rally from the October bottom and a shallow Wave 2 pullback. The strong momentum candles on the right side of the cup confirm impulsive demand – typical at the start of a Wave 3 expansion. 2️⃣ MACD Divergence (visual inference from price behaviour) During the September–October lows, price made equal lows, while momentum clearly strengthened on the right side of the pattern. This represents a bullish momentum shift, often seen before large directional moves. 3️⃣ AVWAP as Dynamic Support The AVWAP anchored from the major swing low (around mid-2024) is rising steadily and held cleanly through October. Price consistently respected it as demand support, indicating institutional accumulation on dips. 4️⃣ Breakout Zone (Cup Pattern) Price is pushing into 1657 resistance, which is the neckline of the entire cup formation. A breakout above this level can trigger a measured move of ~7–8% initially, with potential for more if Wave 3 expands. 📌 Fundamental Snapshot – Strength Behind the Chart HCL Technologies continues to show: Strong ROCE and ROE, reflecting efficient capital use Consistent revenue visibility from long-term contracts Stable margins driven by services and digital segments A history of steady profit growth and reliable cash flows These fundamentals support a medium-term bullish trend and validate the technical breakout setup. 🎯 Summary HCLTECH shows a converging multi-signal bullish setup: Cup-shaped recovery Elliott Wave impulsive structure Bullish momentum divergence AVWAP-supported rally Strong underlying fundamentals A breakout above 1657 could open the path for a strong upside extension, aligning both technical strength and fundamental conviction.