EquityPandit’s Outlook for TCS for the week (June 20, 2016 – June 24, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.80%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 2516 and close the week around the levels of 2603.

Minor support for the stock lies in the zone of 2565. Support for the stock lies in the zone of 2520 to 2525 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying.

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 2530 to 2550 on downside to 2660 to 2670 on upside.