HCL Technologies Limited is engaged in providing a range of software development services, business process outsourcing services and information technology (IT) infrastructure services. The Company’s segments include software services, infrastructure management services and business process outsourcing services.


Company HCL Technologies Limited
Recommendation Accumulate (Rs.805-RS.815)
CMP Rs.819.25
Stop Loss (SL) Rs.765
Target Price Rs.880-Rs.920
Time Horizon 2-4 Weeks


Long term trend is up in this stock. The stock has been in an uptrend making higher tops and higher bottom formation on the daily chart; after a moil correction prices have resumed its upwards journey. The stock has taken support from its 50 Day EMA and made a Hammer pattern on the Daily chart which is bullish in nature. Increase in volume and positive diversion from oscillator indicate that it can move higher from current levels so one can accumulate the stock between (Rs 805-815) With a stop loss of Rs. 765 on closing basis and respected target seems Rs 880-920. Time frame should be 2-4 weeks.


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