EquityPandit’s Outlook for TCS for the week (October 05, 2015 – October 09, 2015):
TATA CONSULTANCY SERVICES:
TCS closed the week on positive note gaining around 2.5%
As we have mentioned last week that the stock has closed at around the upper band of the trading band of 2500 to 2600 in which the stock is moving since last 15 days. If the stock manages to close above the levels of 2600 the stock can move to the levels of 2650. During the week the stock manages to hit a high of 2650 and close the week virtually at the highest point of the week.
Support for the stock lies in the range of 2570 where 100 and 200 Daily SMA are positioned. Below this levels the stock can drift to the levels of 2500 where lower end of the channel is positioned in which the stock is moving since April – 2015.
Resistance for the stock lies in the range of 2750 where upper end of the channel is positioned in which the stock is moving since April – 2015.
Broad range for the stock in the coming week is seen between 2580 to 2600 on downside to 2700 to 2750 on upside.