EquityPandit’s Outlook for TCS for the week  (Dec 18, 2017 – Dec 22, 2017) :

TATA CONSULTANCY SERVICES:

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

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 2673 and close the week around the levels of 2546.

Support for the stock lies in the zone of 2530 to 2550 from where the stock broke out of August-2017 and September-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.

Minor resistance for the stock lies in the zone of 2600 to 2620. 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 2400 to 2450 on downside & 2650 to 2700 on upside.