EquityPandit’s Outlook for HCL Tech for the week  (Dec 18, 2017 – Dec 22, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 2.40%.

As we have mentioned last week, that 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. During the week the stock manages to hit a low of 863 and close the week around the levels of 892.

Support 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 below these levels then the stock can drift to the levels of 855 to 860 where 200 daily moving averages and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 890 to 900 where the stock has formed a top in the month of November-2017. If the stock manages to close above these levels then the stock can move to the levels of 910 to 920 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 850 to 860 on downside & 910 to 920 on upside.