EquityPandit’s Outlook for TCS for the week (August 29, 2016 – September 02, 2016) :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 3.00%.

As we have mentioned last week that support for the stock lies in the zone of 2580 to 2600 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2520 to 2540 where medium term moving averages are lying. During the week the stock manages to hit a low of 2517 and close the week around the levels of 2525.

Support for the stock lies in the zone of 2520 to 2540 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2430 to 2450 where 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 2580 to 2600 where short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2750 to 2770 from where the stock has sold off in the month of August – 2015 and October – 2015.

Broad range for the stock in the coming week is seen between 2420 to 2450 on downside to 2580 to 2600 on upside.