EquityPandit’s Outlook for HCL Tech for the week (Apr 30, 2018 – May 04, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 1.90%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 1108 and close the week around the levels of 1042.

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 Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1110 to 1120 where the stock has formed a short term top.

Broad range for the stock in the coming week is seen between 1000 to 1010 on downside & 1100 to 1110 on upside.