EquityPandit’s Outlook for HCL Tech for the week (April 29,2019 – May 03,2019)

HCL TECHNOLOGIES:

HCL Technologies Ltd.

BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.

Stock closed the week on positive note gaining +3.24%

Week High: 1,140.50

Week Low: 1,100.35

Week Range: 40.15Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1120- 1125 levels, Minor resistance on the upside is capped around 1170- 1175 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 @ 1090- 1095 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 @ 1220– 1225

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 1220- 1225 on upside and 1090- 1095 on downside.