EquityPandit’s Outlook for HCL Tech for the week  (April 17, 2017 – April 21, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 4.70%.

As we have mentioned last week that support for the stock lies in the zone of 835 to 840 where the stock has taken multiple support in the month of March-2017. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where Fibonacci levels and 200 MA is lying. During the week the stock manages to hit a low of 805 and close the week around the levels of 809.

Support for the stock lies in the zone of 800 to 810 where Fibonacci levels and 200 MA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 770 to 780 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 820 to 830 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 840 to 850 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 770 to 775 on downside & 850 to 855 on upside.