EquityPandit’s Outlook for HCL Tech for the week (June 06, 2016 – June 10, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 4.70%.

As we have mentioned last week that minor support for the stock lies in the zone of 730 to 740. Support for the stock lies in the zone of 700 to 710 from where the stock has formed a bottom in the month of Dec – 2014. If the stock manages to close below these levels then the stock can drift to the levels of 650. During the week the stock manages to hit a low of 715 and close the week around the levels of 722.

Support for the stock lies in the zone of 700 to 710 where the stock has formed a bottom in the month of Dec – 2014 and May – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 650.

Minor resistance for the stock lies in the zone of 750. Resistance for the stock lies in the zone of 780 to 790 where the stock has formed a medium term bottom in the month of Feb – 2016. If the stock manages to close above these levels then the stock can move to the levels of 820 to 825 where 100 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 700 to 705 on downside to 750 to 755 on upside.