EquityPandit’s Outlook for HCL Tech for the week  (Dec 04, 2017 – Dec 08, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 3.30%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 864 and close the week around the levels of 830.

Support for the stock lies in the zone of 810 to 820 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 780 to 790 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 780 to 790 on downside & 860 to 870 on upside.