HCL Technologies stock analysis 2013

HCL Technologies stock daily chart analysis

HCL Technologies stock on last trading session closed at 1101 with gains.on daily chart HCL Technologies stock trend is up but going though deeper correction.

on daily chart,HCL Technologies stock trading below week and month average.while heading downside towards 3 month average.on upside 1105 is month average and 1115 is week average and strong resistances while on downside 1020 is 3 month average and major support as well as target for short term traders.

here traders below 1120 on closing basis keep sell on rise view for downside target of 1020-1000.

 

HCL Technologies stock weekly chart analysis

HCL Technologies stock on weekly chart shows losses in this week.on chart share trend and momentum is super bullish and trading way above all major averages.

on downside,930 is HCL Technologies stock 6 month average and first support.below that 820 is 12 month average and 690 is 2 years average level and last long term support.while on upside 1165 is major top and remain as strong supply zone with weekly closing importance.

on weekly chart trend indicators and momentum oscillators both are in overbought zones and now with fresh signals.

for medium term ,traders and investors must book there profits in long positions or hold short view weekly closing basis stoploss of 1170 and for target 950-900 on downside.

 

HCL Technologies stock monthly chart analysis

HCL Technologies stock on monthly chart showing correction sign.last 6 month stock given monthly positive closing.and rallied from 700 to 1174 all time high.

on this chart,HCL Technologies stock 3 years average is at 640 while 540 was 5 years average level.both are strong supports while on upside 1160 is strong resistance level on monthly closing basis for now.on monthly chart indicators are heavily overbought and upcoming correction may be deeper for this stock.

investors must book profits here or keep trailing stoploss to protect profits as well as capital.in major correction expect 820 as first downside target from long term view.

HCL Technologies stock historical chart shows,all time low of 84 rupee in 2009 while all time high was created in oct 2013 at 1174.9.

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Updated: 21/10/2013 — 7:30 PM

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Pramod Baviskar

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