EquityPandit’s Outlook for HCL Tech for the week (Mar 05, 2019 – Mar 08, 2019) : 

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 1075 to 1085 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1100 to 1120 where the stock has formed a high in the month of September-2018. During the week the stock manages to hit a high of 1096 and close the week around the levels of 1053.

Support for the stock lies in the zone of 1030 to 1040 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1010 to 1020 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 1075 to 1085 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1100 to 1120 where the stock has formed a high in the month of September-2018.

Broad range for the stock in the coming week is seen between 1000 to 1020 on downside & 1100 to 1120 on upside.