EquityPandit’s Outlook for TCS for the week  (July 17, 2017 – July 21, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.80%.

As we have mentioned last week that 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. During the week the stock manages to hit a low of 2341 and close the week around the levels of 2397.

Support for the stock lies in the zone of 2350 to 2360 where trend-line support and 200 moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2300 to 2310 where Fibonacci level is lying.

Resistance for the stock lies in the zone of 2400 to 2430 where short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2480 to 2500 where Fibonacci levels are lying.

Broad range for the stock in the coming week is seen between 2250 to 2280 on downside & 2500 to 2530 on upside.