EquityPandit’s Outlook for HCL Tech for the week (Feb 19, 2018 – Feb 23, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 2.80%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 973 and close the week around the levels of 937.

Support for the stock lies in the zone of 920 to 930 where break out levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 880 to 890 where the stock has taken multiple support in the month of January-2018 and long term moving averages 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 & 970 to 980 on upside.