EquityPandit’s Outlook for TCS for the week (November 21, 2016 – November 25, 2016) :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.10%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern. During the week the stock manages to hit a high of 2209 and close the week around the levels of 2125.

Minor support for the stock lies in the zone of 2050 to 2075. The stock has seen a major break down on long term charts and virtually no support is visible. Major support for the stock lies in the zone of 1980 to 2000 where the stock has taken multiple support in March-2014 and May-2014.

Minor resistance for the stock lies in the zone of 2140 to 2160. Resistance for the stock lies in the zone of 2180 to 2200. If the stock manages to close above these levels then the stock can move to the levels of 2260 to 2280 from where the stock broke down from the double bottom pattern.

Broad range for the stock in the coming week is seen between 1980 to 2000 on downside to 2200 to 2230 on upside.