EquityPandit’s Outlook for TCS for week (July 06, 2015 – July 10, 2015):
TATA CONSULTANCY SERVICES
Tata Consultancy Services (NSE: TCS) closed the week on positive note gaining more than 1%.
For the week, it is seen that the stock is moving in the tight range of 2550 to 2610 levels.
During the week the stock manages to close above the levels of 2580 where downward sloping trend-line is positioned.
Multiple support for the stock lies in the range of 2550 to 2575 where short term moving averages, 100 Daily SMA and 200 Daily SMA are positioned.
Below the levels of 2550 on closing basis we can see stock drifting to the levels of 2500 where channel support for the stock is positioned.
Above the levels of 2650 we can see stock moving towards the levels of 2700.
The stock may see huge volatility during the week as the company is announcing the quarterly results on 09/07/2015. The company has already raised red signals about the earnings slowdown.
Broad range for the stock in the coming week is seen between 2520 to 2550 on downside and 2650 to 2670 on upside.