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HCL Technologies Ltd 

* Seeing consolidation in IT index after the initial bounce, while holding firmly above the short term moving average (20 EMA).

* HCL Tech has been among the best performing name in IT majors. Formed a fresh base around 1030.

* The chart pattern combined with confirmation indicators are pointing towards a gradual recovery.

* We thus suggest initiating fresh longs as per the given levels.

Buy HCL Technologies Ltd CMP 1075.75; Range1070-1080; SL 1050; Target 1125

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