EquityPandit’s Outlook for HCL Tech for the week (April 25, 2016 – April 29, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 0.90%

As we have mentioned last week that resistance for the stock lies in the zone of 850 to 860 where 100 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 890 to 900 where 200 Daily SMA is positioned. During the week the stock manages to hit a high of 862 and close the week around the levels of 845.

Minor support for the stock lies in the zone of 820 to 825. If the stock manages to close below these levels then the stock can drift to the levels of 780 where trend-line joining earlier lows is lying.

Resistance for the stock lies in the zone of 850 to 860 where 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 875 to 880 where 200 Daily SMA is positioned.

Broad range for the stock in the coming week is seen between 820 to 825 on downside to 865 to 870 on upside.