EquityPandit’s Outlook for HCL Tech for the week  (July 17, 2017 – July 21, 2017) :

HCL TECHNOLOGIES:

HCL Tech closed the week on positive note gaining around 2.20%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 830 and close the week around the levels of 850.

Minor support for the stock lies in the zone of 840 to 845. 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 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 880 to 890 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 800 to 810 on downside & 880 to 890 on upside.