HCL Technologies shows potential for an upward move after trading sideways in the ₹1,600–₹1,650 range, according to SEBI-registered analyst Kush Ghodasara.
At the time of writing, HCL Technologies shares were trading at ₹1,646.30, up ₹8.60 or 0.5% on the day.
Ghodasara noted that momentum indicators, which had been trending lower, are now signaling a reversal with an internal bullish crossover.
The stock faces resistance at ₹1,660, with a breakout above this level likely to trigger further gains.
He recommended buying at the current market price, setting targets at ₹1,685 and ₹1,715, and advised a stop loss at ₹1,625.
The technical outlook comes amid recent corporate developments for HCL Technologies.
Under its Climate Action Grant, the company awarded $1 million to three NGOs in the Americas, supporting projects in habitat connectivity, community climate resilience, and kelp forest restoration.
Applications for the grant surged 70% this year.
Separately, India’s Union Cabinet approved a ₹37 billion semiconductor manufacturing facility in Jewar, Uttar Pradesh, last month — a joint venture between HCL Technologies and China’s Foxconn Industrial Internet.
The plant is expected to produce up to 36 million display driver chips monthly for mobile phones, laptops, and automobiles.
On Stocktwits, retail sentiment was ‘bearish’ amid ‘normal’ message volume.
The stock has declined 13.9% so far in 2025.
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