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Price and trend forecast of HCLTECH for Tomorrow, Weekly, Monthly

HCL Technologies Limited

Symbol: NSE:HCLTECH

ISIN: INE860A01027

1,521.50

As on 2024-04-12

1,016.25 (52W Low) 1,697.35 (52W High)

HCLTECH's Today's Performance

HCL Technologies Limited started the day by opening at 1,537.00 today 2024-04-12. Its shares reached a high of 1,542.95 and dipped to a low of 1,516.20 in intraday. When the markets closed, HCLTECH’s stock price settled at ₹1,521.50 per share. Also check out its key support and resistance levels.

HCLTECH Buy/Sell Targets

Tomorrow, sell HCLTECH when its price reaches ₹ 1,521.50 with a stop-loss order at ₹ 1,533.16. You can set the target price as ₹ 1,509.84 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of HCLTECH for tomorrow's session along with weekly support and resistance. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Resistance for HCLTECH

Resistance Levels Value in ₹
Tomorrow Resistance 1 1,538
Tomorrow Resistance 2 1,554
Tomorrow Resistance 3 1,564

Important Supports for HCLTECH

Support Levels Value in ₹
Tomorrow Support 1 1,511
Tomorrow Support 2 1,500
Tomorrow Support 3 1,484
Based on where the stock opens tomorrow, if HCLTECH opens on a positive note, our first target will be ₹1,538. If Target 1 is achieved, we will aim for Target 2 which is ₹1,554.

But if HCLTECH falls below the average value of ₹1,526.88, you can enter a sell side position with target number 1 - ₹1,511 and second target - ₹1,500 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of HCLTECH

Looking at HCLTECH, we've seen a Increasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, HCLTECH has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for HCLTECH is moderate bearish.

Tomorrow's Volume based share price Forecast for HCLTECH

HCLTECH's Volume is currently in a Increasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -38%.

Reversal detection for HCLTECH

Predicted trend chart of HCLTECH tomorrow for price forecast
HCLTECH may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹1543 in morning tomorrow
Target 1 tomorrow1537
Target 2 tomorrow1543
Target 3 tomorrow1554
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with HCLTECH's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if HCLTECH opens on a positive note, our first target will be ₹1,537.57. If Target 1 is achieved, we will aim for Target 2 which is ₹1,553.63.

But if HCLTECH falls below the average value of ₹1,526.88, you can enter a sell side position with target number 1 - ₹1,510.82 and second target - ₹1,500.13

HCLTECH's Weekly Targets
1st Up Target 1,550.13
2nd Up Target 1,578.77
1st Down Target 1,504.53
2nd Down Target 1,487.57

As the week for HCLTECH ended on bearish sentiments, we can expect further continuation of this sentiment. HCLTECH's initial target will be 1,550.13 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,504.53 in the upcoming week.

Weekly OHLC Values
Open 1,554.00
High 1,561.80
Low 1,516.20
Close 1,521.50

Week for HCLTECH started with an open price of 1,554.00, and the close was at 1,521.50. HCLTECH reached the highest of 1,561.80 and dipped lowest up to 1,516.20 last week. This indicates a bearish sentiment for the week.

HCLTECH full month swing targets
Monthly Up Target 1 1,595.73
Monthly Up Target 2 1,624.37
Monthly Down Target 1 1,458.93
Monthly Down Target 2 1,396.37

Targets of ₹1,595.73 can be expected to be reached in the coming month. Once HCLTECH achieved this target, we can aim for the next upside target of ₹1,624.37.

HCLTECH if fails to hold upside, down targets of ₹1,458.93 and ₹1,396.37 can be achieved by end of this month.

For complete three weeks if HCLTECH is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as HCLTECH

Symbol Name Industry
TCS Tata Consultancy Services Limited Information Technology Services
INFY Infosys Limited Information Technology Services
CYIENTDLM Cyient DLM Limited Electronic Components
HCLTECH HCL Technologies Limited Information Technology Services
IDEAFORGE ideaForge Technology Limited Computer Hardware

Summary

HCLTECH is expected to reach the target of 1,537.57 in tomorrow's trading session.

After achieving the initial target in HCLTECH, we will aim for higher targets of 1,553.63 tomorrow.

However, if HCLTECH starts to trade below ₹1,526.88, then we will shift our focus to the sell side and aim for down targets of 1,510.82 and 1,500.13.