EquityPandit’s Outlook for TCS for the week  (Feb 25, 2019 – Mar 01, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 5.10%.

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 1881 and close the week around the levels of 1926.

Support for the stock lies in the zone of 1880 to 1900 where long term moving averages and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1780 to 1800 where low for the month of November-2018 and January-2019 is lying.

Resistance for the stock lies in the zone of 1960 to 1980 where Fibonacci levels and 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 levels are lying.

Broad range for the stock in the coming week is seen between 1800 to 1820 on downside & 1980 to 2000 on upside.