EquityPandit’s Outlook for HCL Tech for the week (December 28, 2015 – January 01, 2016):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining around 1.60%.

As we have mentioned last week that resistance for the stock lies in the zone of 865. If the stock manages to close above this levels then the stock can move to the levels of 880 to 890 where 100 Daily SMA is positioned. During the week the stock manages to hit a high of 866 and close the week around the levels of 860.

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 815 to 825 where 500 Daily SMA and trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 865. If the stock manages to close above this levels then the stock can move to the levels of 880 to 890 where 100 Daily SMA is positioned.

Broad range for the stock in the coming week is seen between 840 to 850 on downside to 870 to 880 on upside.