EquityPandit’s Outlook for HCL Tech for the week  (Oct 16, 2017 – Oct 19, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 2.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 915 to 925 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 935 to 940 where Fibonacci levels are lying. During the week the stock manages to hit a high of 936 and close the week around the levels of 926.

Support for the stock lies in the zone of 915 to 925 where Fibonacci level is lying. If the stock manages to close below these levels then the stock can drift to the levels of 890 to 900 where break out levels are lying.

Resistance for the stock lies in the zone of 935 to 940 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 975 to 980.

Broad range for the stock in the coming week is seen between 870 to 880 on downside & 970 to 980 on upside.