EquityPandit’s Outlook for TCS for the week  (April 10, 2017 – April 13, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on absolutely flat note.

As we have mentioned last week that support for the stock lies in the zone of 2400 to 2420 where Fibonacci levels and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2320 to 2340 where Fibonacci level and medium term moving averages are lying. During the week the stock manages to hit a low of 2392 and close the week around the levels of 2429.

Support for the stock lies in the zone of 2400 to 2420 where Fibonacci levels and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2320 to 2340 where Fibonacci level and medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 2460 to 2480. Resistance for the stock lies in the zone of 2550 to 2570 from where the stock broke down in August-2016 and also highs for the month of February-2017 is lying. If the stock manages to close above these levels then the stock can move to the levels of 2600 to 2620.

Broad range for the stock in the coming week is seen between 2320 to 2340 on downside & 2520 to 2540 on upside.