HCLTECH – Channel Bottom Support & Multiple Breakouts | Short-Te

HCLTECH – Channel Bottom Support & Multiple Breakouts | Short-Term Bullish Setup

For Study Purpose Only

🕒 Timeframe: Weekly & Daily
💡 Pattern: Channel Support + Neckline/Trendline Breakout
📈 Current Zone: Near Channel Bottom
🎯 Bias: Short-Term Bullish

🧭 Technical View:
On the weekly chart, HCL Tech has taken strong support near the lower boundary of its ascending channel, indicating the continuation of the prevailing uptrend structure. A bullish reversal candle on the weekly timeframe further confirms buying interest at this crucial support zone.

On the daily chart, the price has given a decisive breakout above the neckline/trendline resistance, supported by a series of multiple inside bar breakouts, showing momentum buildup and strength in the short-term structure.

The stock is now trading above key moving averages, and with follow-through confirmation, it may continue its upward trajectory in the coming sessions.

📊 Study Highlights:

Weekly chart: strong rebound from channel bottom

Daily chart: neckline/trendline breakout confirmed

Multiple inside bar breakouts indicate strength

Weekly candle shows reversal formation

Short-term bullish momentum emerging

⚠️ Disclaimer:
This analysis is purely for educational and study purposes only. Not a buy/sell recommendation. Always conduct your own due diligence before taking any trading decision.