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

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 4.20%.

As we have mentioned last week that 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. During the week the stock manages to hit a high of 2327 and close the week around the levels of 2320.

Support for the stock lies in the 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.

Resistance for the stock lies in the zone of 2330 to 2350 where the stock has created the gap on 09-02-2016. If the stock manages to close above this levels then the stock can move to the levels of 2400 where 100 Daily SMA is positioned.

Broad range for the stock in the coming week is seen between 2250 to 2270 on downside to 2350 to 2370 on upside.