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HCLTECH Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 532281 | NSE: HCLTECH | ISIN: INE860A01027| SECTOR: I.T.
Stock closed the Weekly on positive note gaining +2.72%.
HCL Tech Share Price: 709.10 (NSE)
Weekly High: 729.00
Weekly Low: 677.05
Weekly Range: 51.95 Points
Weekly Support & Resistance For HCLTECH:
| RESISTANCE 2 | 740.00 |
| RESISTANCE 1 | 730.00 |
| SUPPORT 1 | 674.00 |
| SUPPORT 2 | 652.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 674 levels, Minor resistance on the upside is capped around 730 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 652 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 740.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 750 on upside and 650 on downside.
HCL Technologies Ltd. is clearly trading in Upwards channel pattern as marked on the charts, Channel resistance lies around 750 levels and stock may see some selling pressure around those levels. 745- 750 are levels to watch for the week which can be considered as make or break levels for the stock.
