EquityPandit’s Outlook for HCL Tech for the week (July 04, 2016 – July 08, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 1.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 740. Support for the stock lies in the zone of 700 to 710 where the stock has formed a bottom in the month of Dec – 2014 and May – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 650. During the week the stock manages to hit a low of 708 and close the week around the levels of 732.

Support for the stock lies in the zone of 700 to 710 where the stock has formed a bottom in the month of Dec – 2014 and May – 2015. If the stock manages to close below these levels then the stock can drift to the levels of 650.

Resistance for the stock lies in the zone of 750 to 755 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 780 to 790 where the stock has formed a medium term bottom in the month of Feb – 2016.

Broad range for the stock in the coming week is seen between 710 to 715 on downside to 750 to 755 on upside.