​Market Trading Guide: HCL Tech among 4 stock recommendations for Wednesday – Stock Ideas

Target Price: Rs 5,100
Stop Loss: Rs 4,715

The stock has given a breakout of the “Falling Supply Channel” and gained the upper band of the pattern, indicating an upward direction in the stock for short to medium term. On a weekly scale, the price has also settled above the middle Bollinger Band formation, which suggests a bullish trend for the medium term. In addition, Technical Ichimoku cloud suggest that the price is trading above the cloud, which shows a positive trend in the counter.

(Vishal Wagh, Research Head, Bonanza Portfolio)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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