EquityPandit’s Outlook for HCL Tech for the week  (May 08, 2017 – May 12, 2017) :

HCL TECHNOLOGIES:

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

As we have mentioned last week that support for the stock lies in the zone of 800 to 810 where Fibonacci levels and 200 MA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 770 to 780 where Fibonacci level is lying. During the week the stock manages to hit a low of 808 and close the week around the levels of 830.

Minor support for the stock lies in the zone of 818 to 822. Support for the stock lies in the zone of 800 to 810 where Fibonacci levels and 200 MA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 770 to 780 where Fibonacci level is lying.

Resistance 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 above these levels then the stock can move to the levels of 855 to 860 where Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 800 to 810 on downside & 860 to 865 on upside.