EquityPandit’s Outlook for TCS for the week  (Oct 09, 2017 – Oct 13, 2017) :

TATA CONSULTANCY SERVICES:

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

As we have mentioned last week, that support for the stock lies in the zone of 2370 to 2400 where trend-line support and 200 moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2320 where the stock has formed a bottom in the month of June-2017 and July-2017. During the week the stock manages to hit a low of 2424 and close the week around the levels of 2447.

Support for the stock lies in the zone of 2370 to 2400 where trend-line support and 200 moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2320 where the stock has formed a bottom in the month of June-2017 and July-2017.

Resistance for the stock lies in the zone of 2450 to 2470 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2550 to 2580 where the stock has formed a top in the month of July-2017 and August-2017 and September-2017.

Broad range for the stock in the coming week is seen between 2300 to 2330 on downside & 2500 to 2520 on upside.