Short-term Market Sentiment: Tends to bullish – Watch for BUY
As per the chart pattern, this stock looks like consolidating in the region of Rs. 190 and Rs. 220
- After making double bottom at around Rs. 190, price has moved up and touched Rs. 238 and now retraced back a little and closed at Rs. 225 (just above EMA (20) )
- Stock is trading higher by making upward pitchfork and currently price is just near middle pitch fork
- RSI (14) is 49.53 which shows strength is strong
If you think this stock won’t fall much further down, then wait and watch the lower pitch fork area near Rs 215. If lower pick fork provides support, then this could be a good time to buy HCL TECH with a stop-loss just below Rs. 205 for target one at Rs. 240, target two at Rs. 260
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