EquityPandit’s Outlook for HCL Tech for the week (July 25, 2016 – July 29, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 1.60%.

As we have mentioned last week that 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 715 and close the week around the levels of 729.

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 740 to 745 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 705 to 710 on downside to 745 to 750 on upside.