EquityPandit’s Outlook for HCL Tech for the week  (April 10, 2017 – April 13, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 2.90%.

As we have mentioned last week that the support for the stock lies in the zone of 860 to 865 where the stock broke out of August-2016 and January-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of 835 to 840 where the stock has taken multiple support in the month of March-2017. During the week the stock manages to hit a low of 846 and close the week around the levels of 849.

Support for the stock lies in the zone of 835 to 840 where the stock has taken multiple support in the month of March-2017. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where Fibonacci levels and 200 MA is lying.

Resistance for the stock lies in the zone of 860 to 870. If the stock manages to close above these levels then the stock can move to the levels of 895 to 900 where Fibonacci level and highs for the month of February-2016 is lying.

Broad range for the stock in the coming week is seen between 810 to 820 on downside & 870 to 880 on upside.