EquityPandit’s Outlook for HCL Tech for the week  (Aug 14, 2017 – Aug 18, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 2.10%.

As we have mentioned last week that support for the stock lies in the zone of 885 to 895 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 860 to 870 where break out levels, Fibonacci levels and short & medium term moving averages are lying. During the week the stock manages to hit a low of 864 and close the week around the levels of 872.

Support for the stock lies in the zone of 860 to 870 where break out levels, Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 830 to 835 where the stock has taken multiple support and 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 890 to 900 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 915 to 925 where Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 830 to 840 on downside & 900 to 910 on upside.