EquityPandit’s Outlook for TCS for the week  (Apr 09, 2018 – Apr 13, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 3.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 2900 to 2950 from where the stock broke down from February-2018 lows. If the stock manages to close above these levels then the stock can move to the levels of 3000 to 3050 from where the stock broke down after consolidation. During the week the stock manages to hit a high of 2964 and close the week around the levels of 2950.

Minor support for the stock lies in the zone of 2880 to 2910. Support for the stock lies in the zone of 2750 to 2800 from where the stock broke out after 04 years of consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 2600 to 2650 where long term moving averages are lying.

Resistance for the stock lies in the zone of 2970 to 3000 where the stock has formed a gap and short term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 3100 to 3150 where the stock has formed a top in the month of March-2018.

Broad range for the stock in the coming week is seen between 2700 to 2750 on downside & 3100 to 3150 on upside.