EquityPandit’s Outlook for HCL Tech for the week (Dec 03, 2018 – Dec 07, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 3.70%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 990 to 1000. Resistance for the stock lies in the zone of 1030 to 1040 where short term moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1070 to 1080 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1043 and close the week around the levels of 1015.

Support for the stock lies in the zone of 970 to 980 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 940 to 950 where the stock has taken support in the month of July-2018 and October-2018.

Resistance for the stock lies in the zone of 1035 to 1045 where short term moving averages and Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1060 to 1070 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 950 to 960 on downside & 1040 to 1050 on upside.