EquityPandit’s Outlook for HCL Tech for the week  (July 24, 2017 – July 28, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 6.40%.

As we have mentioned last week that minor support for the stock lies in the zone of 840 to 845. Support for the stock lies in the zone of 820 to 825 where Fibonacci levels, 200 daily moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where Fibonacci levels are lying. During the week the stock manages to hit a low of 844 and close the week around the levels of 905.

Support for the stock lies in the zone of 885 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 860 to 870 where break out levels and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 915 to 925 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960.

Broad range for the stock in the coming week is seen between 860 to 870 on downside & 950 to 960 on upside.