EquityPandit’s Outlook for HCL Tech for the week (June 04, 2018 – June 08, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 1.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 920 to 930 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960 from where the stock broke down from April-2018 low and medium term moving averages are lying. During the week the stock manages to hit a high of 924 and close the week around the levels of 905.

Support for the stock lies in the zone of 870 to 880 from where the stock broke out in the month of December-2017. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 830 where the stock has taken support in the month of October-2017 and December-2017.

Resistance for the stock lies in the zone of 920 to 930 where long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 950 to 960 from where the stock broke down from April-2018 low and medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 850 to 860 on downside & 950 to 960 on upside.