EquityPandit’s Outlook for HCL Tech for the week (Apr 16, 2018 – Apr 20, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 4.00%.

As we have mentioned last week, that minor support for the stock lies in the zone of 940 to 950. Support for the stock lies in the zone of 920 to 930 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 890 to 900 where the stock has taken multiple supports in the month of January-2018 and long term moving averages are lying. During the week the stock manages to hit a low of 944 and close the week around the levels of 991.

Minor support for the stock lies in the zone of 970 to 980. Support for the stock lies in the zone of 950 to 960 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 890 to 900 where the stock has taken multiple supports in the month of January-2018 and long term moving averages are lying.

Resistance for the stock lies in the zone of 1020 to 1040 where the stock has formed a top in the month of January-2018. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 where life time high for the stock is lying.

Broad range for the stock in the coming week is seen between 930 to 940 on downside & 1050 to 1060 on upside.