EquityPandit’s Outlook for HCL Tech for the week (January 25, 2016 – January 29, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on absolutely flat note.

As we have mentioned last week that the resistance for the stock lies in the zone of 850 to 860 where trend-line joining recent highs is positioned. If the stock manages to close above this levels then the stock can move to the levels of 880 where 100 Daily SMA is lying. During the week the stock manages to hit a high of 870 and close the week around the levels of 838.

Support for the stock lies in the zone of 810 to 815 where the stock has formed a bottom in the month of October – 2015. If the stock manages to close below this levels then the stock can drift to the levels of 780 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 850 to 860 where short term moving averages, 100 Weekly SMA and trend-line joining recent highs is positioned. If the stock manages to close above this levels then the stock can move to the levels of 880 where 100 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 810 to 815 on downside to 860 to 865 on upside.