EquityPandit’s Outlook for HCL Tech for the week (Mar 11, 2019 – Mar 15, 2019) :
HCL Technologies Ltd.
BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.
Stock closed the week on negative note losing -4.25%
Week High: 1053.20
Week Low: 1008.45
Week Range: 44.75 Points
Technically on the daily charts EquitPandit’s analyst see minor support on the downside for HCLTECH at 985- 980 levels, whereas minor resistance on the upside is capped around 1030- 1035 levels.
If HCLTECH breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 930- 940 if HCLTECH breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 1080- 1090
Currently trend for the stock is bearish to sideways as trading near to 200 days exponential moving averages. EquityPandit predicts HCLTECH range for the week is seen from 1080- 1090 on upside & 930- 940 on downside.