EquityPandit’s Outlook for HCL Tech for the week ( Jan 08, 2018 – Jan 12, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 1.10%.

As we have mentioned last week, that support for the stock lies in the zone of 870 to 875 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. During the week the stock manages to hit a low of 876 and close the week around the levels of 900.

Support for the stock lies in the zone of 890 to 895 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 870 to 875 where short and medium term moving averages are lying.

Resistance for the stock lies in the zone of 915 to 920 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 940 to 945 where the stock has formed a top in the month of October-2017.

Broad range for the stock in the coming week is seen between 870 to 880 on downside & 930 to 940 on upside.