EquityPandit’s Outlook for TCS for the week  (Aug 20, 2018 – Aug 24, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.00%.

As we have mentioned last week, that resistance for the stock lies in the zone of 2000 to 2020 where the stock has formed a top in the month of July-2018. If the stock manages to close above these levels then the stock can move to the levels of 2050 to 2070. During the week the stock manages to hit a high of 2025 and close the week around the levels of 2013.

Minor support for the stock lies in the zone of 1970 to 1980. Support for the stock lies in the zone of 1900 to 1920 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1830 to 1850 where break out levels are lying.

Resistance for the stock lies in the zone of 2020 to 2030 where the stock has formed a top in the month of July-2018. If the stock manages to close above these levels then the stock can move to the levels of 2050 to 2070.

Broad range for the stock in the coming week is seen between 1960 to 1980 on downside & 2050 to 2070 on upside.