EquityPandit’s Outlook for HCL Tech for the week (Nov 05, 2018 – Nov 09, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 3.90%.

As we have mentioned last week, that minor resistance for the stock lies in the zone of 980 to 990. Resistance for the stock lies in the zone of 1020 to 1030 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 1066 and close the week around the levels of 1005.

Minor support for the stock lies in the zone of 980 to 990. Support for the stock lies in the zone of 940 to 950 where the stock has taken support in the month of July-2018. If the stock manages to close below these levels then the stock can drift to the levels of 910 to 920 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1020 to 1030 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1050 to 1060 from where the stock broke down after consolidation.

Broad range for the stock in the coming week is seen between 940 to 950 on downside & 1050 to 1060 on upside.