HCL Technologies Limited : The bullish trend continues
Entry price | Target | Stop-loss | Potential |
---|
₹518.55 |
₹0 |
₹507 |
-100% |
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HCL Technologies is a global technology company. The company’s operations consist of providing Software services, infrastructure services, including sale of networking equipment and business processing outsourcing services, which are in the nature of customer contact centers and technical help desks. The security has still an uptrend and is going toward its highest level.
The company shows strong fundamentals. Firstly, the high valuation of the group shows a great investors confidence in it because there are ready to pay a high price for the stock. Moreover, the Thomson Reuters consensus revised upward EPS estimates for this year and that let see a great potential for the security on the stock market.
Technically, the security shows a bullish configuration on all time scales. Prices are supported by increasing moving averages. In weekly data, 20-week moving average helps the stock to keep its uptrend.
In consequence, investors can take a long position in HCL Technologies with a first target price at INR 549.9. This level is the short term resistance. A new bullish fluctuation could lead the security toward its highest level in case of breakout of this resistance. A stop loss will be fixed under the pivot point at INR 509.2.
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