EquityPandit’s Outlook for TCS for the week  (Nov 05, 2018 – Nov 09, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 6.30%.

As we have mentioned last week, that support for the stock lies in the zone of 1750 to 1770 where long term moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1660 to 1680 where long term Fibonacci levels are lying. During the week the stock manages to hit a low of 1784 and close the week around the levels of 1913.

Minor support for the stock lies around 1860 to 1880. Support for the stock lies in the zone of 1800 to 1820 where long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1660 to 1680 where long term Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1920 to 1940 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 1980 to 2000 where Fibonacci levels and medium 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.