EquityPandit’s Outlook for HCL Tech for the week (April 18, 2016 – April 22, 2016):

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 0.50%

As we have mentioned last week that minor resistance for the stock lies in the zone of 830 where short term moving averages are lying. 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 847 and close the week around the levels of 838.

Minor support for the stock lies in the zone of 800 to 810. Support for the stock lies in the zone of 780 where trend-line joining earlier lows is lying. If the stock manages to close below these levels then the stock can drift to the levels of 720 to 730 where the stock has formed a bottom in the month of December – 2014.

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.

Broad range for the stock in the coming week is seen between 810 to 820 on downside to 850 to 860 on upside.