EquityPandit’s Outlook for TCS for the week  (Oct 22, 2018 – Oct 26, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 0.30%.

As we have mentioned last week, that minor resistance for the stock lies around 1940 to 1960. Resistance for the stock lies in the zone of 1980 to 2000 where Fibonacci levels 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 2050 to 2070 from where the stock has broken down and short term moving averages are lying. During the week the stock manages to hit a high of 1989 and close the week around the levels of 1913.

Minor support for the stock lies around 1880 to 1900. Support for the stock lies in the zone of 1820 to 1840 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1750 to 1770 where long term moving averages are lying.

Minor resistance for the stock lies around 1940 to 1960. Resistance for the stock lies in the zone of 1980 to 2000 where Fibonacci levels 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 2050 to 2070 from where the stock has broken down and short term moving averages are lying.

Broad range for the stock in the coming week is seen between 1820 to 1840 on downside & 2000 to 2020 on upside.