EquityPandit’s Outlook for HCL Tech for the week (Feb 12, 2018 – Feb 16, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 2.70%.

As we have mentioned last week, that minor support for the stock lies in the zone of 970 to 980. Support for the stock lies in the zone of 940 to 945 from where the stock broke out of October-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 915 to 920 where Fibonacci levels are lying. During the week the stock manages to hit a low of 922 and close the week around the levels of 964.

Support for the stock lies in the zone of 940 to 945 from where the stock broke out of October-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 915 to 920 where short term moving averages and Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 970 to 980. Resistance for the stock lies in the zone of 1005 to 1010. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 where life time high for the stock is lying.

Broad range for the stock in the coming week is seen between 900 to 910 on downside & 1010 to 1020 on upside.