EquityPandit’s Outlook for HCL Tech for the week (Apr 23, 2018 – Apr 27, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 7.20%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 976 and close the week around the levels of 1062.

Support for the stock lies in the zone of 1020 to 1040 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 980 to 990 from where the stock broke out of March-2018 high.

Resistance for the stock lies in the zone of 1050 to 1060 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1110 to 1120.

Broad range for the stock in the coming week is seen between 1000 to 1020 on downside & 1100 to 1110 on upside.