Long

HCLTech (Daily) - Will GAP Fill Theory make the Price Fall..??

GAP fill setup:
"Reason why think the Price might Fall from 1475-1450:-
GAPs attracts price & GAPs need to be filled, And Price already Resist & Fell from 1475-1450 zone, so Price might again resist 1475 level & will Fall to Fill the GAP, And BULL RUN will/might start from 1075-1100 level."

HCL Technologies Limited is demonstrating a structural recovery on the daily chart within an ascending channel, recovering from its base low at ₹1,030.00 and Psychological Support at ₹1,000.00. The chart features a key Gann structural level where the High of the Lowest Candle act as Support & Retest Entry Level around ₹1,075.00 – ₹1,100.00. Currently trading at ₹1,380.00 (+1.47%), price is testing immediate horizontal GAP Resitance/BreakOUT supply around ₹1,360.00 – ₹1,392.50.

🔹 PATTERN: ASCENDING CHANNEL & GAP FILL / REVERSAL ZONE

• Gann Structural Level: High of the Lowest Candle anchored at ₹1,076.50, defining the primary support & retest entry floor.
• Overhead Gap Resistance Zone: Horizontal supply barrier situated between ₹1,450.00 and ₹1,475.00.
• GAP / Support & REVERSAL Zone: Major yellow horizontal demand box at ₹1,075.00 – ₹1,100.00 providing structural support.
• Upper Channel Resistance: Primary upper GAP Resitance/BreakOUT band between ₹1,670.00 and ₹1,700.00.
• Psychological Peak Ceiling: All Time High / Psychological Resistance at ₹2,000.00.

🟢 UPSIDE SCENARIO – REVERSAL & BULL RUN BREAKOUT

• Reversal BUY Entry Level: ₹1,075.00 (BUY at GAP / Support & REVERSAL Zone)
• Confirmation Required: Daily candle holding support inside ₹1,075.00 – ₹1,100.00
• TARGET 1 (Lower Gap Level): ₹1,380.00 (+28.37% move from ₹1,075.00 BUY entry)
• TARGET 2 (Intermediate Supply): ₹1,475.00 (+37.21% move from BUY entry)
• SWING TRADE TARGET / Upper GAP Resistance: ₹1,700.00 (+58.14% move from BUY entry)
• Extended Peak High Target: ₹1,780.10 (+65.59% move from BUY entry)
• All-Time High Target: ₹2,000.00 (+86.05% move from BUY entry)

🔴 DOWNSIDE SCENARIO – CORRECTIVE PULLBACK

• Corrective Trigger Level: Rejection near ₹1,450.00 – ₹1,475.00 driving a pullback to fill the lower gap
• Breakdown Level: Loss of ₹1,200.00 advancing toward the demand base
• Important Support Levels: ₹1,380.00, ₹1,300.00, ₹1,200.00, ₹1,100.00, ₹1,076.50, ₹1,030.00, and ₹1,000.00 (Psychological Support)
• Invalidation / Stop Loss (SL): Daily candle close below ₹1,030.00 (-4.19% SL from ₹1,075.00 BUY entry) or below psychological support at ₹1,000.00 (-6.98% SL).

🔹 MY BREAKOUT & EXIT RULE

If price crosses above a key resistance level (such as ₹1,380.00, ₹1,475.00, or ₹1,700.00) and makes a High above that level, but closes below that same level, I consider it a failed breakout/rejection and the BUYER NEEDS TO EXIT THE TRADE.
High above level + Close below level = Failed breakout → EXIT BUY TRADE.

🎯 MY TRADE ROADMAP

Corrective Gap Fill & Bull Run Path:
Initial Push toward ₹1,450.00 – ₹1,475.00 Gap Resistance
↓
Rejection & Pullback toward ₹1,300.00 Channel Support
↓
₹1,075.00 – ₹1,100.00 GAP / Support & REVERSAL Zone (BUY Entry)
↓
Strong Institutional Base Accumulation & Reversal
↓
₹1,380.00 TARGET 1 (+28.37% from BUY Entry)
↓
₹1,475.00 TARGET 2 (+37.21% from BUY Entry)
↓
₹1,700.00 SWING TRADE TARGET / Upper GAP Resistance (+58.14% from BUY Entry)
↓
₹2,000.00 All Time High / Psychological Resistance Target (+86.05% from BUY Entry)

Bearish Breakdown Path:
Loss of ₹1,075.00 – ₹1,100.00 Reversal Support Base
↓
₹1,030.00 Base Low Support
↓
₹1,000.00 Psychological Support Invalidation (Stop Loss -6.98% from BUY Entry)

🔑 MY VIEW

The preferred setup anticipates a short-term rejection near the ₹1,450.00 – ₹1,475.00 gap resistance zone, setting up a corrective pullback to fill the lower liquidity gap. The presence of the High of Lowest Candle level at ₹1,076.50 aligns with the ₹1,075.00 – ₹1,100.00 demand base to provide a strong structural floor.

Once price completes the gap fill and stabilizes inside the ₹1,075.00 – ₹1,100.00 BUY entry zone, the long-term Bull Run is projected to initiate toward ₹1,380.00 (+28.37% from BUY Entry), ₹1,475.00 (+37.21%), and the SWING TRADE TARGET at ₹1,700.00 (+58.14% from BUY Entry). The setup invalidates if price fails to hold the reversal floor and closes below base support at ₹1,030.00 / ₹1,000.00 (-6.98% SL). A breakout confirmation requires a solid daily candle close above trigger levels, strictly following the candle-close exit rule if a rejection occurs.

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This is technical analysis based on chart structure, price levels, and visual patterns shown above. It is not financial advice. Market conditions can change and actual price movement may differ from projected levels.

JaiLaxmiMata

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JaiLaxmiMata