EquityPandit’s Outlook for TCS for the week (April 18, 2016 – April 22, 2016):  

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 3.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 2400 from where the stock has broken out of the short term top. Support for the stock lies in the zone of 2350 to 2380 where 100 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2320 where short term moving averages are lying. During the week the stock manages to hit a low of 2413 and close the week around the levels of 2526.

Support for the stock lies in the zone of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2350 to 2380 where 100 Daily SMA is lying.

Resistance for the stock lies in the zone of 2550 where the stock has made a short term top. If the stock manages to close above this levels then the stock can move to the levels of 2700 from where the stock has sold off in the month of Oct-2016.

Broad range for the stock in the coming week is seen between 2460 to 2480 on downside to 2575 to 2600 on upside.