EquityPandit’s Outlook for TCS for the week (November 30, 2015 – December 04, 2015):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.80%.

As we have mentioned last week that support for the stock lies in the zone of 2350 where downward sloping trend-line for the stock is positioned. The stock has virtually broken all the major support levels. If the stock breaks below this levels then the stock can drift to the levels of 2200 where trend-line support for the stock is lying. During the week the stock manages to hit a low of 2333 and close the week around the levels of 2353.

Support for the stock lies in the zone of 2350 where downward sloping trend-line for the stock is positioned. The stock has virtually broken all the major support levels. If the stock breaks below this levels then the stock can drift to the levels of 2200 where trend-line support for the stock is lying.

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 2320 to 2330 on downside to 2380 to 2400 on upside.