EquityPandit’s Outlook for TCS for the week  (Oct 30, 2017 – Nov 03, 2017) :

TATA CONSULTANCY SERVICES:

TCS closed the week on absolutely flat note.

As we have mentioned last week, that minor support for the stock lies in the zone of 2540 to 2560. Support for the stock lies in the zone of 2460 to 2490 where short 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 2370 to 2400 where trend-line support and 200 moving averages are lying. During the week the stock manages to hit a low of 2518 and close the week around the levels of 2584.

Minor support for the stock lies in the zone of 2540 to 2560. Support for the stock lies in the zone of 2480 to 2500 where short 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 2370 to 2400 where trend-line support and 200 moving averages are lying.

Resistance for the stock lies in the zone of 2580 to 2600 where the stock has formed a top in the month of July-2017. If the stock manages to close above these levels then the stock can move to the levels of 2660 to 2700 where the stock has formed a top in the month of June-2017.

Broad range for the stock in the coming week is seen between 2450 to 2480 on downside & 2650 to 2700 on upside.