October 31, 2018 / 6:45 AM / 14 days ago

BUZZ-India's HCL Technologies hits 2-wk high; chart suggests more upside

** HCL Technologies Ltd’s shares gain as much as 3 pct to 1034.95 rupees, their highest since Oct. 17

** Stock break’s above a resistance at 1016.65 rupees, the 23.6 pct Fibonacci projection level of the uptrend from Dec. 4, 2017 low to Sept. 25, 2018 high

** Stock also cuts above its 50-day exponential moving average

** Breakout suggests, in the near term, stock may test its next resistance at 1060.45 rupees, the 38.2 pct projection level

** Wave pattern suggests, stock is in the final wave of a five-wave uptrend

** MACD cuts above its signal line, a bullish sign

** Stock up 12.84 pct this year as of last close, compared with the 3.16 pct fall in the broader NSE Index in the same period

Reporting by Gaurav Dogra

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