EquityPandit’s Outlook for TCS for the week (February 29, 2016 – March 04, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.30%.

As we have mentioned last week that the 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. During the week the stock manages to hit a high of 2343 and sold off to close the week around the levels of 2219.

Support for the stock lies in the range of 2150 to 2200 where the stock has formed a short term bottom. 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 short term moving averages are lying. 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 2150 to 2170 on downside to 2300 to 2320 on upside.