HCLTech Faces Momentum Test After Sharp Reversal

continues to maintain a strong fundamental position within the Indian IT services space, supported by healthy profitability, large deal wins and increasing exposure to AI-led technology spending. In Q1 FY27, consolidated revenue rose 13.9% YoY to ₹34,579 crore, while net profit increased 20.3% to ₹4,624 crore, reflecting resilient earnings despite a challenging global technology environment. The company also reported record Q1 new deal bookings of $2.4 billion, providing visibility for future revenue conversion. Advanced AI revenue grew sharply by 62.1% YoY in constant currency terms to $171 million, highlighting the increasing contribution from AI and digital transformation services. HCLTech has retained its FY27 revenue-growth guidance of 1–4% in constant currency and EBIT margin guidance of 17.5–18.5%. On the technical front, HCLTech is showing signs of weakness after failing to sustain the recent recovery towards the ₹1,450–₹1,500 zone. The broader chart shows that the stock has moved through several cycles of sharp rallies and corrections, and the latest rebound from the ₹1,100–₹1,150 region has currently stalled below the previous swing highs. The most important near-term development is the MACD bearish crossover visible on the chart, with the MACD line at around 23 below the signal line near 35 and the histogram turning negative. This indicates that the recent upside momentum has weakened and sellers are gaining control in the short term. The ₹1,250–₹1,300 zone is now an important support area; holding this region could allow the stock to consolidate and attempt another recovery towards ₹1,400–₹1,450. A decisive move above ₹1,450 would improve the structure and reopen the possibility of testing ₹1,550–₹1,600. Conversely, a sustained break below ₹1,250 could bring ₹1,150–₹1,100 back into focus. Until the MACD turns positive again and price reclaims the recent swing highs, the technical bias remains cautious.