EquityPandit’s Outlook for HCL Tech for week (July 13, 2015 – July 17, 2015):
HCL Technologies (NSE: HCLTECH) closed the week on negative note losing more than 4%.
As we have mentioned last week that if the stock manages to close above the levels of 957 we may see stock moving towards the levels of 1000 but stock manages to hit the high of 975 during the week and sold off.
The stock has the support around the levels of 900 to 920 where upward moving trend-line and 200 Daily SMA are positioned.
Resistance for the stock lies in the zone of 950 where 100 Daily SMA is positioned.
If the stock manages to hold the levels of 957 the stock can move to the levels of 1000 where upward sloping trend-line is positioned.
Broad range for the stock in the coming week is seen between 880 to 910 on downside to 950 to 970 on upside.