HCL Tech dropped 4% after Q1FY26 results showed margin pressure and muted growth, despite stable revenue and strong software gains. Analysts flagged a bearish setup, warning of a breakdown if ₹1,550 fails. Resistance lies at ₹1,640-₹1,655, with deeper support at ₹1,500. While long-term structure is intact, analysts advise caution until reversal confirmation.