EquityPandit’s Outlook for TCS for the week (March 06, 2017 – March 10, 2017) :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 0.50%.

As we have mentioned last week that minor support for the stock lies in the zone of 2440 to 2450. Support for the stock lies in the zone of 2400 to 2420 where Fibonacci levels and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2320 to 2350 where Fibonacci levels and medium term moving averages are lying. During the week the stock manages to hit a low of 2450 and close the week around the levels of 2494.

Minor support for the stock lies in the zone of 2440 to 2450. Support for the stock lies in the zone of 2400 to 2420 where Fibonacci levels and 200 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2320 to 2350 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 2500 to 2520 from where the stock has broken down in the month of September-2016. If the stock manages to close above these levels then the stock can move to the levels of 2560 to 2580 from where the stock broke down in August-2016 and also highs for the month of February-2017 is lying.

Broad range for the stock in the coming week is seen between 2420 to 2440 on downside & 2560 to 2580 on upside.