📉 HCL Tech – Weakness, Bearish RSI Trendline, Support Retest

🔹 Price Action CMP: ₹1,440 (-1.86%). Price under pressure after topping near ₹1,950–2,000. Currently consolidating around ₹1,440, close to support at ₹1,390–1,315. 🔹 Technical Observations Falling Channel: Stock is trending within a downward sloping structure. Support Retest: ₹1,390–1,315 zone acting as strong base (previous lows). Resistance Above: Immediate hurdle at ₹1,480; stronger at ₹1,650. 🔹 Key Levels Immediate Resistance: ₹1,480. Major Resistance: ₹1,650. Immediate Support: ₹1,390. Major Support: ₹1,315 → ₹1,210. 🔹 Indicators RSI ~41: Weak, following a falling trendline → momentum subdued. Volume: No strong accumulation yet; selling pressure persists. Trend: Medium-term bearish until breakout above ₹1,650. 🔹 Strength & Risk ❌ RSI stuck in bearish downtrend. ❌ Price below key moving averages, structure weak. ✅ Support zone at ₹1,315–1,390 offering short-term stability. 🔹 Outlook Short Term: Range-bound between ₹1,390–₹1,480. Medium Term: Break below ₹1,315 → slide to ₹1,210. Reversal Trigger: Only above ₹1,650 → possible recovery to ₹1,750–1,800. 📌 Strategy Traders: Avoid fresh longs until ₹1,480–₹1,500 is reclaimed. Investors: Monitor ₹1,315–1,210 zone for staggered accumulation with SL below ₹1,200. 📢 Disclaimer: This is educational analysis, not investment advice. 🧑‍💼 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332).