EquityPandit’s Outlook for HCL Tech for the week (September 21, 2015 – September 25, 2015):
HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining more than 3%.
As we have mentioned last week that 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. The stock manages to hit a high of 955 during the week.
Strong support for the stock lies in the zone of 920 to 930 where short term moving averages are positioned. Below the levels of 920 on closing basis the stock can drift to the levels of sub 900.
Resistance for the stock lies in the range of 960 to 980. If the stock closes above this levels then 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 920 to 930 on downside to 970 to 990 on upside.