EquityPandit’s Outlook for TCS for the week (April 11, 2016 – April 13, 2016):  

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 0.90%.

As we have mentioned last week that the stock has closed around the strong resistance zone of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 2550. During the week the stock manages to hit a high of 2490 and close the week around the levels of 2432.

Minor support for the stock lies in the zone of 2400 from where the stock has broken out of the short term top. Support for the stock lies in the zone of 2350 to 2380 where 100 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2320 where short term moving averages are lying.

Strong resistance for the stock lies in the zone of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close above these levels then the stock can move to the levels of 2550.

Broad range for the stock in the coming week is seen between 2380 to 2420 on downside to 2480 to 2500 on upside.