EquityPandit’s Outlook for HCL Tech for the week (July 02, 2018 – July 06, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 2.30%.

As we have mentioned last week, that minor resistance for the stock lies around 920 to 930. Resistance for the stock lies in the zone of 950 to 960 from where the stock broke down from April-2018 low 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 985 to 995 where break down levels are lying. During the week the stock manages to hit a high of 930 and close the week around the levels of 926.

Minor support for the stock lies around 900 to 905. 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 950 to 960 from where the stock broke down from April-2018 low 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 985 to 995 where break down levels are lying.

Broad range for the stock in the coming week is seen between 890 to 900 on downside & 950 to 960 on upside.