EquityPandit’s Outlook for TCS for the week  (Dec 04, 2017 – Dec 08, 2017) :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 2.10%.

As we have mentioned last week, that support for the stock lies in the zone of 2660 to 2700 where the stock has formed a top in the month of June-2017. If the stock manages to close below these levels then the stock can drift to the levels of 2550 to 2600 from where the stock broke out of July-2017 high. During the week the stock manages to hit a low of 2621 and close the week around the levels of 2630.

Support for the stock lies in the zone of 2550 to 2600 from where the stock broke out of July-2017 high. If the stock manages to close below these levels then the stock can drift to the levels of 2450 to 2500 where 200 daily moving averages are lying.

Resistance for the stock lies in the zone of 2660 to 2700 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 2750 to 2800 where life time high for the stock is lying.

Broad range for the stock in the coming week is seen between 2500 to 2530 on downside & 2700 to 2730 on upside.