EquityPandit’s Outlook for TCS for week (July 27, 2015 – July 31, 2015):
TATA CONSULTANCY SERVICES:
Tata Consultancy Services (NSE: TCS) closed the week on negative note losing more than 2%.
The stock has formed a Bullish Harami pattern on daily charts on 24/07/2015 indicating the end of the downtrend in the stock.
Support for the stock lies in the range of 2480 below which the stock can drift to the levels of 2450 where multiple trend-lines are positioned.
Resistance for the stock lies in the zone of 2550 to 2580 where 100 Daily SMA and 200 Daily SMA are positioned.
Broad range for the stock in the coming week is seen between 2480 to 2520 on downside to 2620 to 2650 on upside.