EquityPandit’s Outlook for HCL Tech for the week (May 13, 2019 – May 17,2019)

HCL TECHNOLOGIES:

HCL Technologies Ltd.

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

Stock closed the week on negative note losing -5.04%

Week High: 1,143.65

Week Low: 1,086.05

Week Range: 57.60 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1075- 1070 levels, Minor resistance on the upside is capped around 1120– 1130 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 @ 1040- 1045 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 @ 1150– 1160

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 1150– 1160 on upside and 1040– 1045 on downside.