August 26, 2015
HCL Tech (NSE Cash)
SELL
` 960
` 920 - 925
` 850
5-10 sessions
880
830
930
950
Bearish
Source: Falcon (Chart time - IST 13:20)
As seen in above chart, the pries had given breakdown from a ‘Rising Trendline’ in Monday’s
trading session.
According to role reversal theory of trendlines, the support broken should now act as
resistance on pullback.
The trendline resistance also coincides with the 89 EMA on daily charts.
Thus, we advise traders to sell this stock from current level to a bounce up to ` 925 for a
target of ` 850 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 960.
August 26, 2015
HCL Tech (NSE Cash)
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