EquityPandit’s Outlook for TCS for the week (April 25, 2016 – April 29, 2016):  

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.30%.

As we have mentioned last week that resistance for the stock lies in the zone of 2550 where the stock has made a short term top. If the stock manages to close above this levels then the stock can move to the levels of 2700 from where the stock has sold off in the month of Oct-2016. During the week the stock manages to hit a high of 2553 and close the week around the levels of 2417.

Support for the stock lies in the zone of 2360 to 2370 where short term moving averages and 100 Daily SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300.

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 where the stock has made a short term top.

Broad range for the stock in the coming week is seen between 2360 to 2380 on downside to 2460 to 2480 on upside.