EquityPandit’s Outlook for HCL Tech for the week (Nov 12, 2018 – Nov 16, 2018) : 

HCL TECHNOLOGIES:

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

As we have mentioned last week, that resistance for the stock lies in the zone of 1020 to 1030 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 1047 and close the week around the levels of 1028.

Minor support for the stock lies in the zone of 990 to 1000. Support for the stock lies in the zone of 965 to 975 where Fibonacci levels 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 940 to 950 where the stock has taken support in the month of July-2018 and October-2018.

Resistance for the stock lies in the zone of 1040 to 1050 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1070 to 1080 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 970 to 980 on downside & 1060 to 1070 on upside.