EquityPandit’s Outlook for TCS for the week (April 22,2019 – April 26,2019):
TATA CONSULTANCY SERVICES:
Tata Consultancy Services Ltd.
BSE: 532540| NSE: TCS | ISIN: INE467A01029 | SECTOR: I.T
Stock closed the week on positive note gaining +4.98%
Week High: 2,145.50
Week Low: 2,013.75
Week Range: 131.75 Points
Backed by good results we have seen surge in the heavy weight counter. Technically on the daily charts EquitPandit’s analyst see minor support on the downside for TCS at 2090- 2080 levels, whereas minor resistance on the upside is capped around 2150- 2160 levels.
If TCS breaches minor support on the downside and closes below it we may see fresh breakdown and stock may drag towards next major support levels lower side around 2020-2030 if TCS breaches minor resistance levels on the upside and closes above it we may see fresh breakout and stock can head towards major resistance levels placed around 2210- 2220.
Currently trend for the stock is bullish as stock trading above 200 days exponential moving averages.
EquityPandit predicts TCS range for the week is seen from 2210- 2220 on upside & 2020- 2030 on downside.