EquityPandit’s Outlook for HCL Tech for the week (November 16, 2015 – November 20, 2015):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on negative note losing around 4.75%.

As we have mentioned last week that resistance for the stock lies in the range of 890 to 900. If the stock manages to close above the levels of 890 then the stock can move to the levels of 920 to 930 where 100 & 200 Daily SMA are positioned. During the week the stock manages to hit high of 885 and sold off to the close the week around the levels of 843.

Support for the stock lies in the zone of 800 to 810 where 500 Daily SMA and trend-line support for the stock is lying. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 700.

Resistance for the stock lies in the range of 880 to 890. If the stock manages to close above the levels of 890 then the stock can move to the levels of 920 to 930 where 100 & 200 Daily SMA are positioned.

Broad range for the stock in the coming week is seen between 800 to 810 on downside to 860 to 870 on upside.