According to IIFL, traders can buy HCL Technologies January future below Rs 632 for the target of Rs 660 with a stop-loss of Rs 618.
HCL Technologies on daily chart has been consolidating in ‘Flag’ pattern but since prices has failed to sustain above breakout levels of Rs642, there is good chances of prices testing the support zone of Rs632 once again. This support zone is formed with bullish crossover of short term moving averages namely 20 DMA and 10 DMA with risk reward coming into favor. Adding to it RSI has tested resistance of 55 and about to retreat back to support levels of 40.(Duration 12 days),” says IIFL research report. Institutional holding more than 40% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. To read the full report click on the attachmentDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
