Chart Check: HCL Technologies breaks out from 7-month consolidation; where is the stock headed?

HCL Technologies, a part of the IT sector, has seen a major breakout from a 7-month consolidation on the weekly charts prompting experts to predict it could climb towards 1200 levels over the next two and a half months. The stock has been trading well above most short-term and long-term moving averages on daily charts, while the Relative Strength Index (RSI) is at 65.20. The stock is also in a strong uptrend with higher highs and higher lows on the short- and long-term charts, according to Aditya Thukral, a senior analyst at Master Capital Services.