EquityPandit’s Outlook for TCS for the week  (Feb 18, 2019 – Feb 22, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.50%.

As we have mentioned last week, that support for the stock lies in the zone of 2020 to 2040 from where the stock broke out of December-2018 high and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1960 to 1980 where Fibonacci levels and medium term moving averages are lying. During the week the stock manages to hit a low of 2011 and close the week around the levels of 2030.

Support for the stock lies in the zone of 2020 to 2040 from where the stock broke out of December-2018 high and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1960 to 1980 where Fibonacci levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 2070 to 2090 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2140 to 2160 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 1960 to 1980 on downside & 2070 to 2090 on upside.