EquityPandit’s Outlook for HCL Tech for the week  (Dec 11, 2017 – Dec 15, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 4.80%.

As we have mentioned last week, that resistance for the stock lies in the zone of 855 to 860 where 200 daily 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 875 to 880 where short and medium term moving averages are lying. During the week the stock manages to hit a high of 873 and close the week around the levels of 870.

Support for the stock lies in the zone of 855 to 860 where 200 daily moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 810 to 820 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 875 to 880 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where the stock has formed a top in the month of November-2017.

Broad range for the stock in the coming week is seen between 830 to 840 on downside & 890 to 900 on upside.