EquityPandit’s Outlook for TCS for the week  (July 24, 2017 – July 28, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 3.90%.

As we have mentioned last week, that 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. During the week the stock manages to hit a high of 2500 and close the week around the levels of 2491.

Minor support for the stock lies in the zone of 2460 to 2480. Support for the stock lies in the zone of 2400 to 2430 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2350 to 2360 where trend-line support and 200 moving averages are lying.

Minor resistance for the stock lies in the zone of 2500 to 2515. Resistance for the stock lies in the zone of 2580 to 2600 from where the stock broke down in the month of June-2017. If the stock manages to close above these levels then the stock can move to the levels of 2650.

Broad range for the stock in the coming week is seen between 2380 to 2400 on downside & 2580 to 2600 on upside.