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17th Jul · SEBI-Registered Analyst

Technical Analysis HCL Technologies Ltd

The stock

HCLTECH
is trading around ₹1208 after witnessing a sharp correction from its yearly highs. The stock has recently shown signs of recovery, forming higher lows over the past few weeks. Buyers have returned near the ₹1100 zone helping the stock rebound toward the ₹1200 resistance area. The recent price action indicates improving momentum, but the stock is still trading below its previous swing highs. A sustained move above the current resistance zone will be important to confirm a stronger trend reversal. Until then the stock may continue to consolidate with a positive bias. Immediate support is placed around ₹1180-1190 followed by a stronger support zone near ₹1140-1150. A breakdown below these levels could weaken the short-term structure. On the upside immediate resistance is seen at ₹1230-1250. If the stock closes above this zone with strong volume, the next upside targets could be ₹1300 and ₹1350. The technical setup has improved after the recent recovery and momentum is gradually shifting in favor of the bulls. Short-term traders can watch for a breakout above ₹1250 for fresh buying opportunities while existing investors may continue to hold with a stop-loss below ₹1180. As long as the stock holds above its key support levels the recovery trend remains intact though confirmation will come only after a decisive breakout above resistance.

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