EquityPandit’s Outlook for TCS for the week  ( Jan 15, 2018 – Jan 19, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 3.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 2680 to 2700 from where the stock has broken down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 2750 to 2800 where life time high for the stock is lying. During the week the stock manages to hit a high of 2822 and close the week around the levels of 2776.

Minor support for the stock lies in the zone of 2700 to 2720. Support for the stock lies in the zone of 2630 to 2650 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2530 to 2550 from where the stock broke out of August-2017 and September-2017 high.

Resistance for the stock lies in the zone of 2800 to 2850 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 2950 to 3000.

Broad range for the stock in the coming week is seen between 2600 to 2650 on downside & 2900 to 2950 on upside.