- HCL recently broke its range and the final resistance trendline. - The breakout was quite close to a resistance zone. A bearish engulfing prompted selling, but retest and continuation potential remains. - A retest candle with a long lower wick signifies bullish sentiment. Notice the price sustained over the trendline. - Your support means a lot to us. Do consider boosting this Idea. - A Sustained close above the resistance zone can pave the way for HCL's upward movement. - Also, the Indian IT sector is approaching its critical resistance for the third time. (link in the comment section)
Caution: When the bull runs, everything seems Green. Being cautious always pays well. Remember, you will be buying the top.
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⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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Nifty IT:
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The most important pointer in the above analysis was:
- A Sustained close above the resistance zone can pave the way for HCL's upward movement.