HCL Technologies – HCLTECH Elliott Wave Analysis (1D Chart)

Function: Larger Degree Trend Higher (Intermediate degree, orange)

Mode: Motive

Structure: Impulse

Position: Minute Wave ((iii)) Navy

Details: Minute Wave ((iii)) is advancing higher within Minor Wave 5 against the 1480 level.

Invalidation Point: 1480

HCLTECH Elliott Wave Technical Analysis

HCL Technologies Daily Chart Technical Analysis and Elliott Wave Counts

The HCL Technologies daily chart suggests the stock is progressing within Minor Wave 5, targeting the 1230 level in the medium term. The current pattern is an impulse wave, with Minute Wave ((iii)) likely unfolding now.

The stock bottomed around the 880 mark in September 2022, completing Intermediate Wave (4). Since then, a potential five-wave rally appears to be in progress. Minor Wave 4 concluded at 1230, and the trend remains bullish above this low.

Last week, the stock rallied over 100 points from the 1560-70 range up to 1680, as projected. In the coming days, prices are expected to gain momentum and move towards the 1700-50 range, with the 1480 level as a key support, marking the high of Minute Wave ((i)).

HCL-Technologies-1D-...


HCL Technologies – HCLTECH Elliott Wave Technical Analysis (4H Chart)

Function: Larger Degree Trend Higher (Minute degree, Wave ((iii)) Grey)

Mode: Motive

Structure: Impulse

Position: Minute Wave ((iii)) Navy

Details: Minute Wave ((iii)) is advancing higher within Minor Wave 5 against the 1480 level.

Invalidation Point: 1480

HCL Technologies 4H Chart Technical Analysis and Elliott Wave Counts

The HCL Technologies 4H chart showcases Minor Wave 4 forming as a flat (3-3-5) between the 1670-75 range and the 1230-40 low. Following this, Minor Wave 5 is likely advancing higher as an impulse, with projections suggesting it could rally beyond the 1750 high in the near term.

Additionally, Minute Waves ((i)) and ((ii)) are complete near the 1480 and 1420 levels. If these levels hold, the price is expected to continue rising, staying above 1480, to complete the proposed impulse wave. Currently, Minute Wave ((iii)) appears to be underway.

Immediate price support is around 1537, potentially marking the low of Minuette Wave (ii). If correct, prices should remain above this level as Minuette Wave (iii) continues to develop.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: ADANI ENTERPRISES LTD Elliott Wave Analysis

Special Trial Offer - 0.76 Cents a Day for 3 Months! Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

HCL-Technologies-4H-...


Conclusion

HCL Technologies seems set to push towards the 1750 zone in the upcoming trading sessions as Minute Wave ((iii)) continues to unfold within Minor Wave 5, targeting the 1230-40 level.

Related

NVDA's Future: NVIDIA Corp. (NVDA) Elliott Wave Technical Analysis Reveals Insights

NVDA's Future: NVIDIA Corp. (NVDA) Elliott Wave Technical Analysis Reveals Insights

Elliott Wave analysis of NVIDIA Corp. (NVDA) as of February 21, 24, unveils a tale of intricate wave...

Read More >
Texas Instruments Inc.(TXN:NASDAQ) Elliott Wave Technical Analysis 18 December 23

Texas Instruments Inc.(TXN:NASDAQ) Elliott Wave Technical Analysis 18 December 23

Texas Instruments Inc.(TXN: NASDAQ) Elliott Wave Technical Analysis with 4-Hour and 1-hour Chart dat...

Read More >
Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis 17 November 23

Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis 17 November 23

Tesla Inc.(TSLA:NASDAQ) Elliott Wave Technical Analysis 17 November 23 shows TSLA Stock Market Analy...

Read More >
Elliott Wave Analysis for NASDAQ 100 & Tech Stocks: Insights & Strategies for NDX, SP500, and Major Companies

Elliott Wave Analysis for NASDAQ 100 & Tech Stocks: Insights & Strategies for NDX, SP500, and Major Companies

This summary provides a comprehensive Elliott Wave analysis of the NASDAQ 100 (NDX) and major techno...

Read More >
ASX LIMITED Analysis: Unlock Elliott Wave Insights, Stock Forecasts, Key Levels, and Smarter Trading Strategies for Market Success

ASX LIMITED Analysis: Unlock Elliott Wave Insights, Stock Forecasts, Key Levels, and Smarter Trading Strategies for Market Success

Stay ahead with ASX Limited Elliott Wave Analysis. Our comprehensive technical forecast includes key...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on