EquityPandit’s Outlook for TCS for the week  (June 12, 2017 – June 16, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 2.30%.

As we have mentioned last week that minor support for the stock lies in the zone of 2530 to 2540. Support for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where Fibonacci levels and 200 Daily moving averages are lying. During the week the stock manages to hit a low of 2486 and close the week around the levels of 2507.

Support for the stock lies in the zone of 2480 to 2500 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where Fibonacci levels and 200 Daily moving averages are lying.

Minor resistance for the stock lies in the zone of 2540 to 2560. Resistance for the stock lies in the zone of 2580 to 2600 where the stock has formed a top in the month of March-2017. If the stock manages to close above these levels then the stock can move to the levels of 2670 to 2700.

Broad range for the stock in the coming week is seen between 2400 to 2430 on downside & 2600 to 2630 on upside.