EquityPandit’s Outlook for TCS for the week (July 18, 2016 – July 22, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 0.80%.

As we have mentioned last week that resistance for the stock lies in the zone of 2460 to 2480 where medium term and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2550 to 2600 where short term moving averages are lying. During the week the stock manages to hit a high of 2529 and close the week around the levels of 2445.

Support for the stock lies in the zone of 2400 from where the stock has bounced in the month of April – 2016. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2330.

Resistance for the stock lies in the zone of 2460 to 2480 where medium term and long term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2550 to 2600 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 2350 to 2370 on downside to 2500 to 2530 on upside.