Signals, Powered By EquityPandit
HCLTECH Weekly Outlook and Analysis:
For the Week: (Sept 07,2020 – Sept 11,2020)
BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.
Stock closed the Weekly on negative note losing -0.80%.
HCL Tech Share Price: 700.80 (NSE)
Weekly High: 725.00
Weekly Low: 682.40
Weekly Range: 42.60 Points
Weekly Support & Resistance For HCLTECH:
| RESISTANCE 2 | 740.00 |
| RESISTANCE 1 | 730.00 |
| SUPPORT 1 | 674.00 |
| SUPPORT 2 | 652.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 674 levels, Minor resistance on the upside is capped around 730 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 652 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 740.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 750 on upside and 650 on downside.
HCL tech as marked on the charts is trading in perfect rising channel technical pattern and trading towards channel support levels, buy can be seen in the stock around channel support levels. But if breaks support some correction can be expected, Channel Support zones are the levels to watch for the week ahead.
