EquityPandit’s Outlook for HCL Tech for the week (Dec 24, 2018 – Dec 28, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 0.70%.

As we have mentioned last week, that resistance for the stock lies in the zone of 980 to 990 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1015 to 1025 where short term moving averages and Fibonacci levels are lying. During the week the stock manages to hit a high of 989 and close the week around the levels of 955.

Support for the stock lies in the zone of 940 to 950 where the stock has taken support in the month of July-2018 and October-2018. If the stock manages to close below these levels then the stock can drift to the levels of 900 to 910 where Fibonacci levels and low for the month of July-2018 is lying.

Resistance for the stock lies in the zone of 980 to 990 where Fibonacci levels and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1015 to 1025 where short term moving averages and Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 900 to 920 on downside & 1010 to 1030 on upside.