EquityPandit’s Outlook for TCS for the week (June 06, 2016 – June 10, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.20%.

As we have mentioned last week that resistance for the stock lies in the zone of 2590 to 2600 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 2650. During the week the stock manages to hit a high of 2658 and close the week around the levels of 2630.

Minor support for the stock lies in the zone of 2550 to 2575. Support for the stock lies in the zone of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where 100 Daily SMA is lying.

Minor resistance for the stock lies in the zone of 2650. If the stock manages close above these levels then the stock can move to the levels of 2750 to 2770 where trend-line joining earlier highs is lying.

Broad range for the stock in the coming week is seen between 2500 to 2530 on downside to 2700 to 2720 on upside.