Signals, Powered By EquityPandit
HCLTECH Weekly Outlook and Analysis:
For the Week: (Aug 10,2020 – Aug 14,2020)
BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.
Stock closed the week on negative note losing –2.07%.
HCLTECH Share Price: 690.30 (NSE)
Week High: 699.90
Week Low: 685.00
Week Range: 14.90 Points
Weekly Support & Resistance For HCL Technologies Limited:
| RESISTANCE 2 | 735 |
| RESISTANCE 1 | 717 |
| SUPPORT 1 | 675 |
| SUPPORT 2 | 660 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 675 levels, Minor resistance on the upside is capped around 717 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 @ 660 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 @ 735.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 740 on upside and 650 on downside.
HCL Technologies Ltd. previously broker the channel and holds the strength to move upward, in daily chart RSI is on the positive side, stock is in bullish trend and it can head towards Higher zone in the coming trading sessions, 717 is the key level to watch for the stock in the week.
