HCLTECH Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

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

Stock closed the week on positive note gaining +3.71%.

HCL Tech Share Price: 705.20 (NSE)

Week High: 716.70

Week Low: 676.50

Week Range: 40.20 Points
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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 675 levels, Minor resistance on the upside is capped around 717 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 @ 660 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 @ 735.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the week as 740 on upside and 650 on downside.

HCL Technologies Ltd. Anticipated up move witnessed to increase underlying bullish sense. Technically stock looks strong.
In previous breakout in channel pattern formation in weekly chart bow give a good support to the stock to move upward.

HCLTECH Weekly Support & Resistance Levels: