EquityPandit’s Outlook for TCS for the week (July 25, 2016 – July 29, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.90%.

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 2524 and close the week around the levels of 2515.

Minor support for the stock lies in the zone of 2475. 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.

Minor resistance for the stock lies in the zone of 2530. Resistance for the stock lies in the zone of 2570 to 2600 where the stock had a gap down opening on 24/06/2016. If the stock manages to close above these levels then the stock can move to the levels of 2650 to 2670 where the stock has made a short term top.

Broad range for the stock in the coming week is seen between 2450 to 2470 on downside to 2570 to 2600 on upside.