HCLTECH and the 1.618 Fib Extension reversal

2024年12月22日

The last time (2022), when the price broke out of the 1377 range, it exactly hit the 1.618% extension at 1697 and reversed to 1250-1350 levels.



This time also, it is showing reversal/topping out signs again at the 1.618% fib extension of the 1697 breakout. Also, the Rounding bottom pattern target is done on the upside.



Will it go down to 1600 levels this time? Wil the history repeat again?

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.

1月13日

トレード稼働中

Over the past 3-4 months, HCLTECH is one among the stocks that defy all odds and trading against the market trend. Nifty has been making lower levels, but HCLTECH continues to inch upwards.. can this sustain? Or is it time for the script to follow the overall market trend?

Key Observations:

On Monthly TF, price is making bullish formation and people with BULLISH BIAS can very well consider 2200-2400 levels on the upside...



On daily and Weekly TF;

Price is trading at around 1.618% fib extension of the previous Swing (Feb to June 2024)

Ending formation seen at the top



Cup & handle target seems achieved.. Price is at the channel top




5 waves from the 2022 lows seems also complete





Call writers are 2000 Strike are very strong.. if only they cover, the price will move up on short covering rally





I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.

1月14日

トレード終了: 利益確定目標に到達

10% in a flash :) That was one good trade.. Exiting now.. will wait for the pullback to short again.. will update when the level arrives