HCL Tech Hourly breakout structure

HCL Tech Long candidate

Buy above 1256

Targets of 1268 / 1288

With SL below 1249

Trade Setup
>Reversing from 0.5 Fib retracement of the recent rally.
>Good consolidation range from recent few days.
>Hourly Bullish engulfing with good volume support.
>Hourly RSI and MACD forming Divergence
>Results on 11 Oct, can trigger as a catalyst for bullish momentum.
>Nifty IT is looking bullish as well.

(For educational purpose only)