EquityPandit’s Outlook for TCS for week (August 03, 2015 – August 07, 2015):
TATA CONSULTANCY SERVICES:
Tata Consultancy Services (NSE: TCS) closed the week on absolutely flat note.
Last week the stock consolidated in the tight range of 2470 on downside to 2520 on upside.
Since last 3 months the stock has been consolidating in the range of 2450 on downside to 2650 on upside.
A breakout on either side on monthly charts can move the stock further 5% to 7% in that direction.
On daily charts if the stock manages to close above the levels of 2520 the stock can move to the levels of 2560 where 100 Daily SMA and 200 Daily SMA are lying.
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 2450 to 2480 on downside to 2550 to 2580 on upside.