EquityPandit’s Outlook for HCL Tech for the week  (Nov 20, 2017 – Nov 24, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 3.10%.

As we have mentioned last week, that resistance for the stock lies in the zone of 875 to 880 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels are lying. During the week the stock manages to hit a high of 885 and close the week around the levels of 840.

Support for the stock lies in the zone of 840 to 845 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 855 to 860 where 200 daily moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 875 to 880 where short and medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 800 to 810 on downside & 870 to 880 on upside.