EquityPandit’s Outlook for TCS for the week  (June 19, 2017 – June 23, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.30%.

As we have mentioned last week that support for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where Fibonacci levels and 200 Daily moving averages are lying. During the week the stock manages to hit a low of 2386 and close the week around the levels of 2400.

Support for the stock lies in the zone of 2380 to 2400 where Fibonacci levels and 200 Daily moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2310 to 2330 where trend-line support and Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 2420 to 2430. Resistance for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2580 to 2600 where the stock has formed a top in the month of March-2017.

Broad range for the stock in the coming week is seen between 2300 to 2330 on downside & 2500 to 2530 on upside.