EquityPandit’s Outlook for TCS for the week (September 21, 2015 – September 25, 2015):
TATA CONSULTANCY SERVICES:
TCS closed the week on absolutely flat note.
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 2530 to 2550.
The stock has been moving in the tight range of 2530 on downside to 2580 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 2580 the stock can move to the levels of 2650.
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.
The stock has been forming a triangle pattern on daily basis, so breakout on either side will move the stock further 3% to 4% in that direction.
Broad range for the stock in the coming week is seen between 2450 to 2500 on downside to 2600 to 2650 on upside.