HFCL Ltd. is currently trading around ₹77.12 and presenting an interesting technical setup for chart watchers and swing traders. On the weekly timeframe, the stock is attempting to respect two key support zones simultaneously:
🟢 Weekly trendline support: This trendline has held firm across multiple swing lows, and HFCL is now testing it again, suggesting potential continuation if buyers step in.
🔄 Resistance turned support: A prior weekly resistance level has now flipped into support, reinforcing the zone around ₹76–₹77 as a critical area for price action.
This confluence of supports could act as a launchpad for bullish momentum, provided volume confirms the move and broader market sentiment remains favorable. Traders may watch for a strong close above ₹78–₹79 to validate a breakout attempt, while keeping an eye on downside protection below ₹68.
📌 Educational Insight: When a stock tests multiple support levels—especially on higher timeframes like weekly charts—it often signals a high-probability zone for reversal or continuation. However, confirmation through price action and volume is essential before taking positions.
💡 Always combine technical setups with risk management and broader market context. HFCL’s current structure is worth monitoring for potential breakout behavior.
For Educational Purpose only : Live chart Example
🟢 Weekly trendline support: This trendline has held firm across multiple swing lows, and HFCL is now testing it again, suggesting potential continuation if buyers step in.
🔄 Resistance turned support: A prior weekly resistance level has now flipped into support, reinforcing the zone around ₹76–₹77 as a critical area for price action.
This confluence of supports could act as a launchpad for bullish momentum, provided volume confirms the move and broader market sentiment remains favorable. Traders may watch for a strong close above ₹78–₹79 to validate a breakout attempt, while keeping an eye on downside protection below ₹68.
📌 Educational Insight: When a stock tests multiple support levels—especially on higher timeframes like weekly charts—it often signals a high-probability zone for reversal or continuation. However, confirmation through price action and volume is essential before taking positions.
💡 Always combine technical setups with risk management and broader market context. HFCL’s current structure is worth monitoring for potential breakout behavior.
For Educational Purpose only : Live chart Example
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.