EquityPandit’s Outlook for TCS for the week  (Jan 14, 2019 – Jan 18, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.80%.

As we have mentioned last week, that support for the stock lies in the zone of 1820 to 1840 where Fibonacci levels and long term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1780 to 1800 where low for the month of October-2018 and November-2018 are lying. During the week the stock manages to hit a low of 1835 and close the week around the levels of 1843.

Support for the stock lies in the zone of 1820 to 1840 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1780 to 1800 where low for the month of October-2018 and November-2018 are lying.

Minor resistance for the stock lies in the zone of 1880 to 1900. Resistance for the stock lies in the zone of 1930 to 1950 from where the stock has broken down from consolidation and short & medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 1970 to 1990 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 1780 to 1800 on downside & 1880 to 1900 on upside.