EquityPandit’s Outlook for TCS for the week (December 21, 2015 – December 24, 2015):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 2420 to 2440 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 2500 where trend-line resistance for the stock is lying. During the week the stock manages to hit a high of 2445 and retraced to close the week around the levels of 2410.

Support for the stock lies in the zone of 2350 to 2370. If the stock closes below this levels then the stock can drift to the levels of 2320 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 2430 to 2440 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 2500 where trend-line resistance and 100 Daily SMA for the stock is lying.

Broad range for the stock in the coming week is seen between 2350 to 2370 on downside to 2430 to 2450 on upside.