EquityPandit’s Outlook for HCL Tech for the week  (Oct 09, 2017 – Oct 13, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 3.80%.

As we have mentioned last week that minor support for the stock lies in the zone of 870 to 880. Support for the stock lies in the zone of 855 to 860 where break out levels, Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 830 to 835 where the stock has taken multiple support and 200 daily moving averages are lying. During the week the stock manages to hit a low of 877 and close the week around the levels of 908.

Minor support for the stock lies in the zone of 890 to 900. Support for the stock lies in the zone of 870 to 880 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 855 to 860 where break out levels, Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 915 to 925 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 935 to 940 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 870 to 880 on downside & 930 to 940 on upside.