EquityPandit’s Outlook for HCL Tech for the week (November 23, 2015 – November 27, 2015):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining around 2.7%.

As we have mentioned last week that 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. During the week the stock manages to hit low of 825 and close the week around the levels of 866.

Support for the stock lies in the zone of 850 where trend-line support for the stock is lying. If the stock closes below this levels then the stock can drift to the levels of 800 to 810 where 500 Daily SMA and trend-line support for the stock is lying.

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.