EquityPandit’s Outlook for TCS for the week  (Aug 27, 2018 – Aug 31, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 2020 to 2030 where the stock has formed a top in the month of July-2018. If the stock manages to close above these levels then the stock can move to the levels of 2050 to 2070. During the week the stock manages to hit a high of 2046 and close the week around the levels of 2043.

Minor support for the stock lies in the zone of 2000 to 2010. Support for the stock lies in the zone of 1930 to 1940 where break out 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 1830 to 1850 where break out levels and medium term moving averages are lying.

Resistance for the stock lies in the zone of 2050 to 2070. If the stock manages to close above these levels then the stock can move to the levels of 2090 to 2110.

Broad range for the stock in the coming week is seen between 1980 to 2000 on downside & 2090 to 2110 on upside.