HCL Technologies Ltd – Technical Breakdown Alert HCL Technologies LimitedNSE:HCLTECHFiveCirclesThe chart reflects a mature topping formation in the form of a Head & Shoulders pattern, developed after an extended uptrend—indicating a probable trend reversal phase. A decisive neckline breakdown, supported by expansion in volume, confirms distribution at higher levels. Price has now slipped below the intermediate trendline, signaling weakening momentum and loss of bullish structure. From a structural standpoint: The right shoulder rejection near resistance confluence adds conviction to the bearish setup Price is now trading within a falling channel, respecting lower highs and lower lows Projection: Measured move from the H&S pattern suggests a downside trajectory towards 960 – 840 levels Critical Demand Zone: The 1140 – 1150 zone acts as the last structural support. A sustained breakdown below this region could trigger accelerated downside momentum.