EquityPandit’s Outlook for HCL Tech for the week  (Oct 30, 2017 – Nov 03, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 7.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 935 to 940 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 975 to 980. During the week the stock manages to hit a high of 944 and close the week around the levels of 855.

Support for the stock lies in the zone of 845 to 850 where the stock has taken multiple support. If the stock manages to close below these levels then the stock can drift to the levels of 820 to 825 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 870 to 875 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 810 to 820 on downside & 890 to 900 on upside.