EquityPandit’s Outlook for TCS for the week (August 17, 2015 – August 21, 2015):
TATA CONSULTANCY SERVICES:
TCS closed the week on positive note gaining around 6%.
The stock has broken out of the consolidation phase ranging from 2450 to 2650 and has hit a high of 2720 levels.
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 targets for the break-out also lies in the range of 2800 to 2850.
Support for the stock lies in the zone of 2600 to 2650 from where the stock broke out.
Resistance for the stock lies in the zone of 2800 to 2850.
Broad range for the stock in the coming week is seen between 2600 to 2650 on downside to 2800 to 2850 on upside.