Ram Navami Pick :- HCLTECH target achieved by Choice Broking Ltd
HCLTech Ltd
Buy HCLTECH in Cash @ 1360 Add Upto 1315 TGT 1500/1600
HCL TECH is currently trading at 1360, having corrected 35.26% from its lifetime high. The stock recently bounced back from a strong demand zone and the 200 EMA forming a hammer candlestick on the weekly chart-indicating a potential bullish reversal. A close above 1370 could confirm this setup, paving the way for upside targets of ?1500 and 21600 in the short to mid-term. Any dip near #1315 can be considered a buying opportunity, supported by strong technical structure
Immediate resistance levels lie at ?1400 and 1440, where short-term traders may look to book partial gains. Momentum indicators strengthen the bullish bias-RSI is at 21.58, hovering near the oversold zone, while the Stochastic RSI is also indicating a potential reversal.
The 1235 level is a crucial support zone. A breakdown below this level could indicate weakness, requiring a reassessment of the holding strategy and potential adjustments based on market conditions.
With strong technical support and improving momentum, traders may consider buying at current levels and adding on dips till #1315. A sustained move above ?1370 will likely accelerate the upside move toward the mentioned targets.
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