Post Q3 results: Trading strategies for HCL Tech, HDFC Bank, Metro Brands

Traders and Investors need to be cautious about the shift in trend, whenever vital supports are violated, it is time to be watchful.

HCL Technologies Ltd (HCLTECH)
Likely target: Rs 1,200 and Rs 1,175
Downside potential: 5% to 7%

The shares of HCL Technologies Ltd have broken the vital support of Rs 1,270 levels. And is hinting towards a slide in the direction of Rs 1,200 to Rs 1,175 levels.  The bearish bias may continue to dominate the bullish sentiment as long as the stock trades below Rs 1,270. However, the bigger trend is still positive as the breakout of “Inverse Head and Shoulder” signals an upward trend until Rs 1,120 levels is protected, as per the daily chart.