EquityPandit’s Outlook for TCS for the week  (Apr 23, 2018 – Apr 27, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 7.90%.

As we have mentioned last week, that minor support for the stock lies in the zone of 3100 to 3130. Support for the stock lies in the zone of 3000 to 3050 where Fibonacci levels and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2850 to 2900 from where the stock broke out and Fibonacci levels are lying. During the week the stock manages to hit a low of 3111 and close the week around the levels of 3402.

Support for the stock lies in the zone of 3250 to 3300 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 3100 to 3150 from where the stock broke out of March-2018 high.

Resistance for the stock lies in the zone of 3370 to 3400 where Fibonacci extension levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 3550 to 3600.

Broad range for the stock in the coming week is seen between 3200 to 3250 on downside & 3550 to 3600 on upside.