EquityPandit’s Outlook for TCS for the week (August 24, 2015 – August 28, 2015):
TATA CONSULTANCY SERVICES:
TCS closed the week on negative note losing around 1%.
As we have mentioned last week that above the levels of 2720 the stock can move to the levels of 2750 to 2800 where upward moving channel and the trend-line joining the highs are positioned. The stock hit a high of 2753 during the week and retraced to the levels of 2676.
Support for the stock lies in the zone of 2600 to 2650 from where the stock broke out and also medium term moving averages are positioned.
Resistance for the stock lies in the zone of 2750 to 2800 where upward moving channel and the trend-line joining highs are positioned.
Broad range for the stock in the coming week is seen between 2550 to 2600 on downside to 2750 to 2800 on upside.