EquityPandit’s Outlook for TCS for week (July 13, 2015 – July 17, 2015):

TATA CONSULTANCY SERVICES:

Tata Consultancy Services (NSE: TCS) closed the week on negative note losing around 5%.

As the company has posted subdue set of quarterly results the stock sold off and lost around 5% for the week.

As seen from the charts the stock is approaching towards the trend-line support positioned around the zone of 2420 to 2440 which has hold the stock in every correction.

Below the levels of 2420 we may stock drifting to the levels of 2300 to 2350 where 500 Daily SMA and 100 Weekly SMA are positioned.

Resistance for the stock lies in the range of 2530 to 2550 levels where downward sloping trend-line are positioned.

Broad range for the stock in the coming week is seen between 2380 to 2420 on downside to 2550 to 2580 on upside.