EquityPandit’s Outlook for HCL Tech for the week (Jan 29, 2018 – Feb 02, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 5.40%.

As we have mentioned last week, that support for the stock lies in the zone of 940 to 945 from where the stock broke out of October-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 915 to 920 where Fibonacci levels are lying. During the week the stock manages to hit a low of 945 and close the week around the levels of 1010.

Minor support for the stock lies in the zone of 980 to 990. Support for the stock lies in the zone of 940 to 945 from where the stock broke out of October-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 915 to 920 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1050 to 1060 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1100 to 1110.

Broad range for the stock in the coming week is seen between 940 to 950 on downside & 1050 to 1060 on upside.