EquityPandit’s Outlook for TCS for the week (September 07, 2015 – September 11, 2015):
TATA CONSULTANCY SERVICES:
TCS closed the week on negative note losing around 1%.
During the week the stock has taken support around the lower end of upward moving channel and 100 & 200 Daily SMA are positioned around the levels of 2500 to 2550.
The stock has been moving in the tight range of 2520 on downside to 2620 on upside since last 10 days. A breakout on either side will move the stock further 3% to 4% in that direction.
If the stock manages to close above the levels of 2620 the stock can move to the levels of 2725 where upper end of the channel is positioned.
If the stock drifts below the levels of 2500, the stock can move to the levels of 2400 where medium term support for the stock lies.
Broad range for the stock in the coming week is seen between 2450 to 2500 on downside to 2600 to 2650 on upside.