HCLTECH

Fundamental View- HCL Technologies Ltd. (HCLTECH) is one of India’s leading IT services companies, known for its strong focus on engineering R&D, cloud, digital transformation, and IT infrastructure services. The company has demonstrated consistent growth, with FY24 revenue reaching ₹1.14 lakh crore, reflecting a steady year-on-year increase driven by demand across digital, engineering, and software services. The company's EBIT margin stood at approximately 18%, showcasing operational efficiency despite macroeconomic headwinds. In terms of profitability, net profit for FY24 stood at ₹15,800 crore, supported by healthy deal wins, particularly in engineering and software product segments. Technical View- As seen on the daily chart, the stock is consistently holding strong support near its 14-day EMA, reflecting sustained buying interest. Fundamentally, HCL Technologies remains sound, and for the past month, the stock has been firmly holding above the ₹1650 level, trading within a tight range. The daily chart shows the stock finding strong support at the 14-day EMA, while also approaching minor resistance near the 200-day moving average. Both daily and weekly charts indicate that the stock is trading within a healthy positive trend. On the weekly timeframe, the stock continues to trade within an upward trajectory, with a clear range between ₹1750 on the upside and ₹1675 on the downside. The overall trend and structure remain bullish, supported by strong technical indicators. From a trading perspective, any dip toward the ₹1650 zone can offer a favorable buying opportunity, with a stop-loss below ₹1650. On the upside, the stock has the potential to test ₹1775 levels in the near term. Warning- ***** ***** *****