EquityPandit’s Outlook for HCL Tech for the week (May 06,2019 – May 10,2019)

HCL TECHNOLOGIES:

HCL Technologies Ltd.

BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.

Stock closed the week on positive note gaining +0.28%

Week High: 1,183.35

Week Low: 1,131.15

Week Range: 52.20 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1120- 1115 levels, Minor resistance on the upside is capped around 1185– 1190 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1080- 1075 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1255– 1260

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 1255- 1260 on upside and 1075- 1080 on downside.