After a rise from the lows of 881 to 1022 levels, looks like HCL Tech
HCLTECH
has topped out signaling the end of countertrend.
I can see that the stock has got rejected at the trendline resistance and also at 61.8% retracement of the previous downmove.
Also, it has formed an Evening Star like pattern today as well as on July 13.
Good opportunity to short here with a stop loss of 1015 for successive targets of 968 and 936.
Keep an eye on result which is set to be declared on July 27,2018.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
HCLTECH
has topped out signaling the end of countertrend. I can see that the stock has got rejected at the trendline resistance and also at 61.8% retracement of the previous downmove.
Also, it has formed an Evening Star like pattern today as well as on July 13.
Good opportunity to short here with a stop loss of 1015 for successive targets of 968 and 936.
Keep an eye on result which is set to be declared on July 27,2018.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.