indiamarketoutlook
Short

HCL TECH; At the brink of a breakdown

NSE:HCLTECH   HCL TECHNOLOGIES
HCL TECH
CMP 639.90

The stock near an important level which has acted as support for some time now.

A break and close below 635 may lead to further fall up to 882 levels.

Alternatively one may consider the following strategy

Sell HCL TECH Jan expiry

660 CALL OPTION

around 22

Lot size 700

The strategy has a max profit potential of Rs 15400 if HCL closes anywhere below 660 on 31st Jan.
Inbuilt Loss protection for a rise on stock up to 682 on expiry day

take care & safe trading...!!!
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