December 14, 2015
HCL Tech (NSE Cash)
849 - 843
14 - 21 sessions
Source: Falcon (Chart Time: 10:17 IST)
The stock is consolidation in a range since last couple of months. The ongoing consolidation is near the
medium term support on weekly charts based on a rising trendline joining recent lows and 89EMA. The ‘RSI’
indicator on weekly charts too is trading near its long term support of 40. Since prices are trading the lower
end of the range which coincides with the long term support, we believe the stock could show a pullback
move in near term. On daily charts, the gap area of early October will act as resistance which is the target
zone for the pullback move.
we advise traders to buy this stock at current levels and on declines to
843 for a target of
914 in coming 14 to 21 trading sessions. The stop loss for this trade set up can
be kept at
December 14, 2015
Last 5 recommendations
Recom. Buying/Selling Range CMP
Target 2 Stop-loss
296 - 294
816 - 810
3690 - 3710
318 - 315
461 - 465
Exited at 463
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website:
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