EquityPandit’s Outlook for TCS for the week (June 13, 2016 – June 17, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 2.80%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 2553 and close the week around the levels of 2556.

Minor support for the stock lies in the zone of 2520 to 2525 where short term moving averages are lying. 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 2600. Resistance for the stock lies in the zone of 2660 where the stock has made a short term top on 02-06-2016. 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 2480 to 2510 on downside to 2620 to 2630 on upside.