Signals, Powered By EquityPandit
HCLTECH Weekly Outlook and Analysis:
For the Week: (Sept 21,2020 – Sept 25,2020)
BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.
Stock closed the Weekly on positive note gaining +12.33%.
HCL Tech Share Price: 810.60 (NSE)
Weekly High: 825.10
Weekly Low: 744.15
Weekly Range: 80.95 Points
Weekly Support & Resistance For HCLTECH:
| RESISTANCE 2 | 852.00 |
| RESISTANCE 1 | 828.00 |
| SUPPORT 1 | 746.00 |
| SUPPORT 2 | 730.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 746 levels, Minor resistance on the upside is capped around 828 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 @ 730 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 @ 852.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 900 on upside and 690 on downside.
HCL Technologies Ltd. trading around Channel Resistance as seen in the chart above, If breaks the Resistance on the upside rally in the stock can be seen, If faces trouble to cross the resistance we may see sharp profit booking in the counter, in short stock is trading around make or break levels, Keep a watch on the stock.
