EquityPandit’s Outlook for HCL Tech for the week  (June 12, 2017 – June 16, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 0.30%.

As we have mentioned last week that resistance for the stock lies in the zone of 855 to 860 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying. During the week the stock manages to hit a high of 910 and close the week around the levels of 861.

Minor support for the stock lies in the zone of 845 to 850. Support for the stock lies in the zone of 835 to 840 where short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 825 where Fibonacci levels and break out levels are lying.

Resistance for the stock lies in the zone of 858 to 862 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying.

Broad range for the stock in the coming week is seen between 830 to 840 on downside & 880 to 885 on upside.