EquityPandit’s Outlook for HCL Tech for the week (December 14, 2015 – December 18, 2015):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining around 0.50%.

As we have mentioned last week that the stock is trading around the support zone of 830 where 100 Weekly SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 800 to 810 where 500 Daily SMA and trend-line support for the stock is lying. During the week the stock manages to hit a low of 834 and bounce to close the week around the levels of 841.

The stock is trading around the support zone of 840 where 100 Weekly SMA is lying. If the stock closes below this levels then the stock can drift to the levels of 810 to 820 where 500 Daily SMA and trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 850. If the stock manages to close above this levels then the stock can move to the levels of 880 to 890. If the stock manages to close above the levels of 890 then the stock can move to the levels of 910 to 920 where 100 & 200 Daily SMA are positioned.

Broad range for the stock in the coming week is seen between 810 to 815 on downside to 860 to 870 on upside.