EquityPandit’s Outlook for HCL Tech for the week (July 15, 2019 – July 19, 2019)

HCL TECHNOLOGIES:

HCL Technologies Ltd.

BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.

Stock closed the week on positive note gaining +0.74%

Week High: 1047.80

Week Low: 1008.00

Week Range: 39.80 Points
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Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1007 levels, Minor resistance on the upside is capped around 1040 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 @ 981 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 @ 1065.

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit predicts range for the week as 1070 on upside and 980 on downside.