EquityPandit’s Outlook for TCS for the week (August 22, 2016 – August 26, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.90%.

As we have mentioned last week that minor support for the stock lies in the zone of 2650 to 2670. Support for the stock lies in the zone of 2580 to 2600 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2500 to 2520 where medium term moving averages are lying. During the week the stock manages to hit a low of 2600 and close the week around the levels of 2603.

Support for the stock lies in the zone of 2580 to 2600 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2520 to 2540 where medium term moving averages are lying.

Minor resistance for the stock lies in the zone of 2650 to 2675. Resistance for the stock lies in the zone of 2750 to 2770 from where the stock has sold off in the month of August – 2015 and October – 2015. If the stock manages to close above these levels then the stock can move to the levels of 2820 to 2850.

Broad range for the stock in the coming week is seen between 2520 to 2550 on downside to 2650 to 2670 on upside.