EquityPandit’s Outlook for HCL Tech for the week (Aug 20, 2018 – Aug 24, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 3.80%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1000 to 1020 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1015 and close the week around the levels of 1003.

Support for the stock lies in the zone of 960 to 970 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 920 to 930 where Fibonacci levels and short & long term moving averages are lying.

Resistance for the stock lies in the zone of 1020 to 1030 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 950 to 960 on downside & 1050 to 1060 on upside.