EquityPandit’s Outlook for TCS for the week (December 07, 2015 – December 11, 2015):

TATA CONSULTANCY SERVICES:

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

As we have mentioned last week that resistance for the stock lies in the zone of 2420 to 2440 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 2500 where trend-line resistance for the stock is lying. During the week the stock manages to hit a high of 2391 and sold off to close the week around the levels of 2328.

The stock has virtually broken all the support levels. Minor support lies in the zone of 2300 to 2310. If the stock closes below this levels then the stock can drift to the levels of 2150.

Resistance for the stock lies in the zone of 2420 to 2440 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 2500 where trend-line resistance for the stock is lying.

Broad range for the stock in the coming week is seen between 2280 to 2300 on downside to 2380 to 2400 on upside.