HCL Tech Down 4% Today: Is ₹1,365 a Dip-Buying Zone? Here’s the Technical View

Posted by : Harsh Piplani | Tue Feb 24 2026

The shares of HCL Technologies Ltd (NSE: HCLTECH) are under sharp selling pressure in the current market, declining 4.29% to ₹1,365, down by ₹61.20 from the last close. The decline in the stock is due to overall weakness in the IT sector, driven by global uncertainties and conservative spending patterns in major international markets.

The stock has been volatile in recent weeks as market participants assess demand trends, deal activity, and margin viability in FY26.

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Technical Analysis: Bearish Bias

HCL Tech’s stock is currently trading below its short- and long-term simple moving averages, suggesting a bearish bias in the short term. The stock has seen a sharp correction from its recent highs. Momentum indicators are showing selling pressure in the stock. If the stock holds below key resistance levels, the weakness may continue in the short term. A move below key support levels could lead to further weakness, while a move above resistance levels could attract fresh buying interests.

HCL Tech: Market Cap & Performance

HCL Tech’s market cap is approximately ₹3.70 lakh crores. The stock has underperformed some chosen IT stocks over the last year. So far in 2026, the stock has been volatile amid concerns about global IT spending.

HCL Share Price Target & Brokerage Outlook

Some brokerages are bullish on HCL Tech, citing the following:

Robust deal pipeline
Growth in engineering and R&D services
Continued success in digital transformation initiatives
Visibility into a stable order book

Some analysts have a ‘Buy’ recommendation with medium-term price targets of ₹1,500-₹1,650, anticipating margin expansion and steady revenue growth in the coming quarters.

Cautious View

A few brokerages have turned cautious on HCL Tech, citing the following:

Margin pressures from wage increases and investments
Reduced discretionary IT spending in the US and Europe

Currency-related Volatility

Some analysts have maintained an ‘Add’ or ‘Hold’ rating, with target prices ranging from ₹1,420 to ₹1,480, indicating little upside from current levels.

HCL Share Price: Analysts’ Outlook

The short-term movement of HCL Tech shares will be driven by:

Discussion on deal wins and conversion of the pipeline
Margin guidance for FY26
Macro trends in the global markets and enterprise spending on technology
Although the short-term volatility may persist, the fundamentals are in place for the Indian IT majors in the long term.