EquityPandit’s Outlook for HCL Tech for the week (May 21, 2018 – May 25, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 4.50%.

As we have mentioned last week, that support for the stock lies in the zone of 900 to 910 where the stock has taken support in the month of February-2018 and March-2018. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 880 from where the stock broke out in the month of December-2017. During the week the stock manages to hit a low of 887 and close the week around the levels of 891.

Support for the stock lies in the zone of 870 to 880 from where the stock broke out in the month of December-2017. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 830 where the stock has taken support in the month of October-2017 and December-2017.

Resistance for the stock lies in the zone of 900 to 910 from where the stock has broken down from the lows of February-2018 and March-2018. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960 from where the stock broke down from April-2018 low and medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 820 to 830 on downside & 950 to 960 on upside.