EquityPandit’s Outlook for HCL Tech for the week  (July 10, 2017 – July 14, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on negative note losing around 2.20%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 829 and close the week around the levels of 832.

Support for the stock lies in the zone of 820 to 825 where Fibonacci levels, 200 daily moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 800 to 810 where Fibonacci levels are lying.

Resistance 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 above these levels then the stock can move to the levels of 858 to 862 where Fibonacci level is lying.

Broad range for the stock in the coming week is seen between 800 to 810 on downside & 850 to 855 on upside.