EquityPandit’s Outlook for TCS for the week  (May 29, 2017 – June 02, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.80%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2520 to 2540. Resistance for the stock lies in the zone of 2580 to 2600 where the stock has formed a top in the month of March-2017. If the stock manages to close above these levels then the stock can move to the levels of 2630 to 2650. During the week the stock manages to hit a high of 2638 and close the week around the levels of 2578.

Minor support for the stock lies in the zone of 2540 to 2560. Support for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where Fibonacci levels and 200 Daily moving averages are lying.

Resistance for the stock lies in the zone of 2580 to 2600 where the stock has formed a top in the month of March-2017. If the stock manages to close above these levels then the stock can move to the levels of 2630 to 2650.

Broad range for the stock in the coming week is seen between 2480 to 2500 on downside & 2650 to 2680 on upside.