Technical Pick – HCL Technologies
• HCL Technologies is finding support at 830 and resistance above 873.
•On Daily chart, Apollo tyre is showing breakout point above 873 level.Break and sustain above 873 will see nonstop rally till 916--926++ in weeks to come.
•HCL Technologies has been trading in a broader range of 731--926 for last one year.
•Daily 14 period RSI has turned up from near levels and is trading above 52 which indicates it the stock is turning bullish.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 916--926+++mark in coming weeks.
For positional trade, stop loss seeing below 830 on closing basis which in unlikely to breach in near terms.
Trading Recommendation(13-09-17)
Buy HCL Technologies above 873 and for the initial upside target of 916--926++ mark with stop loss below 830 on closing basis.
More will update soon!!
