EquityPandit’s Outlook for TCS for the week (February 15, 2016 – February 19, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 8.00%.

As we have mentioned last week that resistance for the stock lies in the zone of 2450 where 100 & 500 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 2500 where 200 Daily SMA is lying. During the week the stock manages to hit a high of 2412 and sold off to close the week around the levels of 2226.

The stock has closed just below the strong support zone of 2250 from where the stock has broken out of the consolidation range in the month of June – 2014. If the stock does not manages to close above this levels then the stock can drift to the levels of 2000 where 1000 Daily SMA and 200 Weekly SMA is lying.

The stock has closed around the resistance zone of 2250 from where the stock has broken out of the consolidation range in the month of June – 2014. If the stock manages to close above this levels then the stock can move to the levels of 2330 to 2350 where the stock has created the gap on 09-02-2016.

Broad range for the stock in the coming week is seen between 2100 to 2150 on downside to 2300 to 2350 on upside.