EquityPandit’s Outlook for HCL Tech for the week (Oct 01, 2018 – Oct 05, 2018) : 

HCL TECHNOLOGIES:

HCL Tech closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the stock lies in the zone of 1080 to 1100 where the stock has made a high in the month of April-2018. If the stock manages to close above these levels then the stock can move to the levels of 1120 to 1140. During the week the stock manages to hit a high of 1125 and close the week around the levels of 1088.

Support for the stock lies in the zone of 1040 to 1050 where Fibonacci levels and high for the month of August-2018 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 are lying.

Resistance for the stock lies in the zone of 1080 to 1100 where the stock has made a high in the month of April-2018. If the stock manages to close above these levels then the stock can move to the levels of 1120 to 1140.

Broad range for the stock in the coming week is seen between 1020 to 1040 on downside & 1120 to 1140 on upside.