EquityPandit’s Outlook for HCL Tech for the week (October 10, 2016 – October 14, 2016) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 0.80%.

As we have mentioned last week that support for the stock lies in the zone of 770 to 780 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 750. During the week the stock manages to hit a low of 785 and close the week around the levels of 807.

Support for the stock lies in the zone of 780 to 790 where medium term moving averages and 200 Daily SMA are lying. If the stock manages to close below these levels then the stock can drift to the levels of 750.

Resistance for the stock lies in the zone of 820 to 830. If the stock manages to close above these levels then the stock can move to the levels of 845 to 850 from where the stock sold off on 03/08/2016.

Broad range for the stock in the coming week is seen between 770 to 780 on downside to 830 to 840 on upside.