EquityPandit’s Outlook for TCS for the week  (April 17, 2017 – April 21, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.10%.

As we have mentioned last week that 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 2340 where Fibonacci level and medium term moving averages are lying. During the week the stock manages to hit a low of 2321 and close the week around the levels of 2328.

Support for the stock lies in the zone of 2320 to 2340 where Fibonacci level and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2210 to 2230 where Fibonacci level and trend-line joining lows of 2052 and 2153 are lying.

Minor resistance for the stock lies in the zone of 2350 to 2360. Resistance for the stock lies in the zone of 2380 to 2400 where Fibonacci level and 200 Daily MA is lying. If the stock manages to close above these levels then the stock can move to the levels of 2430 to 2450.

Broad range for the stock in the coming week is seen between 2210 to 2230 on downside & 2420 to 2440 on upside.