EquityPandit’s Outlook for TCS for the week  (Dec 03, 2018 – Dec 07, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 8.50%.

As we have mentioned last week, that minor resistance for the stock lies around 1850 to 1860. Resistance for the stock lies in the zone of 1880 to 1900 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 1960 to 1980 where Fibonacci levels and short & medium term moving averages are lying. During the week the stock manages to hit a high of 1997 and close the week around the levels of 1968.

Support for the stock lies in the zone of 1900 to 1920 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1820 to 1840 where long term moving averages and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1960 to 1980 where Fibonacci levels and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2020 to 2040 where Fibonacci level and gap is lying.

Broad range for the stock in the coming week is seen between 1840 to 1860 on downside & 2040 to 2060 on upside.