EquityPandit’s Outlook for TCS for the week (December 14, 2015 – December 18, 2015):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.50%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 2315 and bounce to close the week around the levels of 2386.

The stock has virtually broken all the support levels. Minor support lies in the zone of 2310 to 2330. 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 2330 to 2350 on downside to 2400 to 2420 on upside.