EquityPandit’s Outlook for TCS for the week  (Dec 31, 2018 – Jan 04, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the stock lies in the zone of 1930 to 1950 from where the stock has broken down from consolidation 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 1970 to 1990 where Fibonacci levels are lying. During the week the stock manages to hit a high of 1942 and close the week around the levels of 1896.

Support for the stock lies in the zone of 1880 to 1900 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 1820 to 1840 where Fibonacci levels are lying.

Resistance for the stock lies in the zone of 1930 to 1950 from where the stock has broken down from consolidation 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 1970 to 1990 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 1820 to 1840 on downside & 1950 to 1970 on upside.