Trend Reversal setup in HCLTECH(Inverted H&S Pattern)!

HCL Technologies (NSE:HCLTECH) – Bullish Reversal Setup

📌 Pattern Identified: A clear Inverted Head and Shoulders formation is visible on the daily chart, indicating a potential bullish reversal.

✅ Key Observations:

Price has broken above the neckline and also crossed the 50-period EMA, showing strength.

Notable volume buildup at the right shoulder, supporting the bullish move.

RSI is above 60, suggesting improving momentum.

📈 Projected Target: ~₹2,074 based on the pattern's height.
🔻 Stop Loss: Placed slightly below the right shoulder near ₹1,537.

⚠️ Watch Levels:

₹1,696: Minor resistance.

₹1,780: Key resistance level before the target zone.

📝 Conclusion: A breakout above the neckline with volume confirms the bullish pattern. As long as the price sustains above the stop loss, the risk-reward appears favorable.


Disclaimer: Consider my analysis for educational purposes only.

Before entering any trade:
1️⃣ Educate Yourself – Understand market dynamics and technical patterns.
2️⃣ Do Your Own Research & Analysis – Never rely solely on external opinions.
3️⃣ Define Your Risk-Reward Ratio – Ensure your trade aligns with your risk appetite.
4️⃣ Never Trade with Full Capital – Always manage risk and preserve capital.

Trade wisely! ✅📊