EquityPandit’s Outlook for HCL Tech for the week  (July 03, 2017 – July 07, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on absolutely flat note.

As we have mentioned last week that resistance for the stock lies in the zone of 858 to 862 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying. During the week the stock manages to hit a high of 859 and close the week around the levels of 851.

Support for the stock lies in the zone of 840 to 845 where 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 820 to 825 where Fibonacci levels, 200 daily moving averages and break out levels are lying.

Resistance for the stock lies in the zone of 858 to 862 where Fibonacci level is lying. If the stock manages to close above these levels then the stock can move to the levels of 885 to 895 where Fibonacci levels and highs for the month of March-2017 are lying.

Broad range for the stock in the coming week is seen between 810 to 820 on downside & 880 to 885 on upside.