EquityPandit’s Outlook for HCL Tech for the week (February 08, 2016 – February 12, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on absolutely flat note.

As we have mentioned last week that support for the stock lies in the zone of 840 to 850 where short term moving averages, 100 Weekly SMA and trend-line joining recent highs is positioned. If the stock closes below this levels then the stock can drift to the levels of 800 to 810 where the stock has made a bottom in January – 2016. During the week the stock manages to hit a low of 849 and bounce to close the week around the levels of 868.

Support for the stock lies in the zone of 840 to 850 where short term moving averages, 500 Daily SMA and 100 Weekly SMA is positioned. If the stock closes below this levels then the stock can drift to the levels of 800 to 810 where the stock has made a bottom in January – 2016.

Stock has closed around the resistance zone of 865 where 100 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 900 where 200 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 850 to 855 on downside to 890 to 900 on upside.