EquityPandit’s Outlook for TCS for the week  (Aug 14, 2017 – Aug 18, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.00%.

As we have mentioned last week, that minor support for the stock lies in the zone of 2460 to 2480. Support for the stock lies in the zone of 2400 to 2430 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2350 to 2360 where trend-line support and 200 moving averages are lying. During the week the stock manages to hit a low of 2481 and close the week around the levels of 2496.

Minor support for the stock lies in the zone of 2460 to 2480. Support for the stock lies in the zone of 2400 to 2430 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2350 to 2360 where trend-line support and 200 moving averages are lying.

Minor resistance for the stock lies in the zone of 2520 to 2525. Resistance for the stock lies in the zone of 2580 to 2600 where the stock has formed a top in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 2700 where the stock has formed a top in the month of June-2017.

Broad range for the stock in the coming week is seen between 2380 to 2400 on downside & 2620 to 2650 on upside.