EquityPandit’s Outlook for HCL Tech for the week (Feb 4, 2019 – Feb 8, 2019) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 7.70%.

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 Fibonacci levels are lying. During the week the stock manages to hit a high of 1050 and close the week around the levels of 1044.

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

Resistance for the stock lies in the zone of 1050 to 1060 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1075 to 1085 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 1000 to 1020 on downside & 1070 to 1090 on upside.