EquityPandit’s Outlook for HCL Tech for the week (July 09, 2018 – July 13, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 1.90%.

As we have mentioned last week, that 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 950 and close the week around the levels of 944.

Support for the stock lies in the zone of 910 to 920 where short and long term moving averages are lying. 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.

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 900 to 910 on downside & 970 to 980 on upside.