EquityPandit’s Outlook for TCS for the week (January 25, 2016 – January 29, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.50%.

As we have mentioned last week that 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 closes below this levels then the stock can drift to the levels of 1950 to 2000 where 1000 Daily SMA and 200 Weekly SMA is positioned. During the week the stock manages to hit a low of 2243 and close the week around the levels of 2295.

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 closes below this levels then the stock can drift to the levels of 1950 to 2000 where 1000 Daily SMA and 200 Weekly SMA is positioned.

Resistance for the stock lies in the zone of 2320 to 2350 from where the stock has broken down from the short term bottom. If the stock manages to close above this levels then the stock can move to the levels of 2410 to 2420 where short term moving averages are lying.

Broad range for the stock in the coming week is seen between 2240 to 2260 on downside to 2330 to 2350 on upside.