EquityPandit’s Outlook for TCS for the week (March 14, 2017 – March 17, 2017) :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.90%.

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 2455 and close the week around the levels of 2542.

Minor support for the stock lies in the zone of 2510 to 2520. Support for the stock lies in the zone of 2460 to 2480 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2400 to 2420 where Fibonacci levels and 200 Daily SMA is lying.

Resistance for the stock lies in the zone of 2560 to 2570 from where the stock broke down in August-2016 and also highs for the month of February-2017 is lying. If the stock manages to close above these levels then the stock can move to the levels of 2600 to 2620.

Broad range for the stock in the coming week is seen between 2460 to 2480 on downside & 2600 to 2620 on upside.