Hang on to HCL Infosystems

B. Krishnakumar

THE SHARE price of HCL Infosystems has been on a sharp decline for some time now. There is no evidence of a reversal in the present downtrend.

The scrip could see a sympathetic move up in consonance with the firm market trend.

However, such price upmoves need to be viewed as an opportunity to exit from the company as the prevailing trend is still down. On the upside, the HCL Infosystems faces resistance at Rs 284-Rs 300. Existing holders could remain invested and progressively trim exposures once the stock moves past Rs 270. Fresh buying may be deferred for the moment.

(Note: Recommendations in this column are based entirely on the technical analysis of the past price behaviour of the scrip concerned. There is a risk of loss in trading.)