EquityPandit’s Outlook for TCS for the week (July 04, 2016 – July 08, 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 2565. Support for the stock lies in the zone of 2520 to 2525 where medium 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 Daily SMA and 100 Weekly SMA is lying. During the week the stock manages to hit a low of 2458 and close the week around the levels of 2501.

Support for the stock lies in the zone of 2460 to 2480 where 200 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 2400 from where the stock has bounced in the month of April – 2016.

Resistance for the stock lies in the zone of 2550 to 2600 where short term moving averages are lying. If the stock manages close above these levels then the stock can move to the levels of 2660 where the stock has made a short term top on 02-06-2016.

Broad range for the stock in the coming week is seen between 2410 to 2430 on downside to 2560 to 2580 on upside.