EquityPandit’s Outlook for TCS for the week  (Feb 4, 2019 – Feb 8, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 5.70%.

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 2035 and close the week around the levels of 2030.

Support for the stock lies in the zone of 1970 to 1990 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1930 to 1950 where short & medium term moving averages are lying.

Resistance for the stock lies in the zone of 2030 to 2050 where Fibonacci levels are 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 1930 to 1950 on downside & 2070 to 2090 on upside.