EquityPandit’s Outlook for TCS for the week (August 08, 2016 – August 12, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.10%.

As we have mentioned last week that resistance for the stock lies in the zone of 2650 to 2670 where the stock has made a short term top. If the stock manages to close above these levels then the stock can move to the levels of 2750 to 2770 from where the stock has sold off in the month of August – 2015 and October – 2015. During the week the stock manages to hit a high of 2725 and close the week around the levels of 2650.

Minor support for the stock lies in the zone of 2600 to 2620. Support for the stock lies in the zone of 2530 to 2550 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2430 to 2450 where 200 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 2725. Resistance for the stock lies in the zone of 2750 to 2770 from where the stock has sold off in the month of August – 2015 and October – 2015. If the stock manages to close above these levels then the stock can move to the levels of 2820 to 2850.

Broad range for the stock in the coming week is seen between 2550 to 2570 on downside to 2720 to 2750 on upside.