EquityPandit’s Outlook for TCS for the week  (July 10, 2017 – July 14, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.30%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2400 to 2420. Resistance for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2580 to 2600 where the stock has formed a top in the month of March-2017. During the week the stock manages to hit a high of 2383 and close the week around the levels of 2332.

Support for the stock lies in the zone of 2310 to 2330 where trend-line support and Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2220 to 2250 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 2360 to 2370 where 200 Daily moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2400 to 2430 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 2220 to 2250 on downside & 2400 to 2430 on upside.