EquityPandit’s Outlook for TCS for the week  (Dec 17, 2018 – Dec 21, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on absolutely flat note.

As we have mentioned last week, that support for the stock lies in the zone of 1950 to 1970 where Fibonacci levels and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1900 to 1920 where long term moving averages and Fibonacci levels are lying. During the week the stock manages to hit a low of 1960 and close the week around the levels of 1990.

Support for the stock lies in the zone of 1950 to 1970 where Fibonacci levels and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1900 to 1920 where long term moving averages and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 2020 to 2040 where Fibonacci level and gap is lying. If the stock manages to close above these levels then the stock can move to the levels of 2070 to 2090 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 1920 to 1940 on downside & 2050 to 2070 on upside.