HCL TECH 553.65
545 THE STRONG SUPPORT, RESISTING AT 200DMA...
This stock is now trading in the smaller Downward Sloping channel since mid-august. If 545 is taken away then it'll make the fall of the 602. The thing is that it retraced the 75 percent of the fall from 706.65 to 362 levels. Now the 574 is key resistence for this rally. And the key support for this stock is at 510. As long as it stays above 510 then the rise from 362 to 602 is still valid one. Even 545 is the lower band of BB. Just watch out the level of 545. To resume the long term rally it need to cross the 558 level which is the 200dma.
545 THE STRONG SUPPORT, RESISTING AT 200DMA...
This stock is now trading in the smaller Downward Sloping channel since mid-august. If 545 is taken away then it'll make the fall of the 602. The thing is that it retraced the 75 percent of the fall from 706.65 to 362 levels. Now the 574 is key resistence for this rally. And the key support for this stock is at 510. As long as it stays above 510 then the rise from 362 to 602 is still valid one. Even 545 is the lower band of BB. Just watch out the level of 545. To resume the long term rally it need to cross the 558 level which is the 200dma.
posted by Naveen Pantera at 9:14 PM
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