EquityPandit’s Outlook for HCL Tech for the week (September 14, 2015 – September 18, 2015):
HCL Technologies (NSE: HCLTECH) closed the week on negative note losing more than 2%.
As we have mentioned last week that if the stock breaks below the levels of 930 the stock can move to the levels of 900 where 200 Daily SMA is positioned and the stock manages to hit a low of 909 during the week and bounce to the levels of 920.
Strong resistance for the stock lies in the range of 930 to 940 where 200 Daily SMA is positioned. If the stock manages to close above this levels the stock can move to the levels of 960.
Strong support for the stock lies in the zone of 900 to 910 where 100 Daily SMA is positioned. If the stock drifts below this levels the stock can move to the levels of 850 where trend-line support for the stock is positioned.
Broad range for the stock in the coming week is seen between 880 to 900 on downside to 950 to 970 on upside.