HCL Tech Needs ₹1,740 Breakout For Bulls To Take Charge: SEBI RA Vijay Kumar Gupta

HCL Technologies is hovering near a key support zone just ahead of its first-quarter (Q1) FY26 earnings release.

SEBI-registered research analyst Vijay Kumar Gupta said the ₹1,660–₹1,670 range is a critical make-or-break level for fresh positioning, noting that while the long-term structure remains bullish, recent price action signals short-term caution.

He said HCL Technologies is expected to post stable Q1 numbers, with mild pressure on margins and modest revenue contraction. Gupta also pointed to strong deal wins and the upcoming semiconductor joint venture with Foxconn as long-term tailwinds.

According to Gupta, the immediate support zone of ₹1,660–₹1,670 has acted as a bullish mitigation block, aligning with previous consolidation.

He identified overhead resistance at ₹1,720–₹1,740, saying that only a strong breakout above ₹1,740 would confirm bullish continuation. 

If ₹1,660 breaks decisively, Gupta said downside zones open around ₹1,600 and ₹1,500–₹1,480, with a major base around ₹1,400 based on historical demand clusters.

Gupta noted that selling volume has picked up slightly but is not at panic levels. 

The analyst said the stock appears to be consolidating for now, rather than reversing, as long as key support levels are maintained.

He’s keeping an eye on the ₹1,660–₹1,670 zone for a potential bounce, noting that a reversal candle in this range could offer a low-risk entry. But if the stock closes below ₹1,660 with volume, he plans to stay on the sidelines and reassess around ₹1,600 or ₹1,500. 

Gupta added that bullish confirmation would come only above ₹1,740.

On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.

The stock has declined 12.5% so far in 2025.

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