Topic Statement:

HCL Tech has rebounded with the broader market, recovering from key support near 1400 and now approaching a critical resistance zone.

Key Points:

• The stock corrected down to the 38.2% Fibonacci retracement level around 1400 and has since staged a recovery
• The 180-day moving average at 1400 provided strong support, confirming it as a key technical level
• Price is now moving toward the 2000 mark, where it may face stiff resistance due to the potential formation of a double top candlestick pattern

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Disclaimer

This article should not be interpreted as investment advice. For any investment decisions, consult a reputable financial advisor. The author and publisher are not responsible for any losses incurred by investors or traders based on the information provided.