EquityPandit’s Outlook for TCS for the week  ( Jan 01, 2018 – Jan 05, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.00%.

As we have mentioned last week, that minor support for the stock lies in the zone of 2600 to 2620. 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. During the week the stock manages to hit a low of 2605 and close the week around the levels of 2701.

Minor support for the stock lies in the zone of 2620 to 2650. 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.

Resistance for the stock lies in the zone of 2680 to 2700 from where the stock has broken 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 2550 to 2600 on downside & 2800 to 2850 on upside.