EquityPandit’s Outlook for HCL Tech for the week (June 18, 2018 – June 22, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 1.90%.

As we have mentioned last week, that minor support for the stock lies in the zone of 900 to 910. 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. During the week the stock manages to hit a low of 908 and close the week around the levels of 948.

Minor support for the stock lies in the zone of 910 to 920. 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 950 to 960 from where the stock broke down from April-2018 low and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 985 to 995 where break down levels are lying.

Broad range for the stock in the coming week is seen between 900 to 910 on downside & 970 to 980 on upside.