EquityPandit’s Outlook for HCL Tech for the week ( Jan 15, 2018 – Jan 19, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 3.00%.

As we have mentioned last week, that support for the stock lies in the zone of 890 to 895 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 875 where short and medium term moving averages are lying. During the week the stock manages to hit a low of 885 and close the week around the levels of 926.

Support for the stock lies in the zone of 915 to 920 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 890 to 895 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 940 to 945 where the stock has formed a top in the month of October-2017. If the stock manages to close above these levels then the stock can move to the levels of 980 to 990.

Broad range for the stock in the coming week is seen between 880 to 890 on downside & 960 to 970 on upside.