EquityPandit’s Outlook for TCS for the week (November 28, 2016 – December 02, 2016) :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 8.20%.

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 2307 and close the week around the levels of 2300.

Support for the stock lies in the zone of 2230 to 2250 from where the stock broke out on the intraday basis. If the stock manages to close below these levels then the stock can drift to the levels of 2150 to 2170 from where the stock has broken out of the consolidation zone.

The stock has closed around the resistance zone of 2260 to 2280 from where the stock broke down from the double bottom pattern. If the stock manages to close above these levels then the stock can move to the levels of 2400 to 2420 where the stock has formed a double top in the month of October-2016.

Broad range for the stock in the coming week is seen between 2200 to 2220 on downside to 2400 to 2420 on upside.