Signals, Powered By EquityPandit
TCS Weekly Outlook and Analysis:
For the Week: (Aug 17,2020 – Aug 21,2020)
BSE: 532540| NSE: TCS | ISIN: INE467A01029 | SECTOR: I.T
Tata Consultancy Services closed the Weekly on negative note losing -2.32%
TCS Share Price: 2242.15 (NSE)
Weekly High: 2325.00
Weekly Low: 2233.10
Weekly Range: 102.95 Points
Weekly Support & Resistance For TCS:
| RESISTANCE 2 | 2393.00 |
| RESISTANCE 1 | 2332.00 |
| SUPPORT 1 | 2165.00 |
| SUPPORT 2 | 2089.00 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2165 levels, Minor resistance on the upside is capped around 2393 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2089 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 2393.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 2450 on upside and 2000 on downside.
TCS on daily has formed Diamond Top Pattern, it’s a reversal pattern, stock may see some long unwinding in next few trading sessions. Any Closing on weekly basis above all time highs is bullish for the stock.
