EquityPandit’s Outlook for HCL Tech for week (July 20, 2015 – July 24, 2015):

HCL TECHNOLOGIES:

HCL Technologies (NSE: HCLTECH) closed the week on positive note gaining around 3%.

This week also the stock hit a high of 973 and retraced to the levels of 955. Since last 2 weeks the stock has been trying to take out the resistance zone of 970 to 980 but all the attempts are failing.

If the stock manages to cross over the resistance zone of 970 to 980 the stock can move to the levels of 1000 to 1020 where upward sloping trend-line is positioned.

Support for the stock lies in the range of 930 to 940 where short term moving averages are positioned.

Broad range for the stock in the coming week is seen between 920 to 930 on downside to 980 to 1000 on upside.