EquityPandit’s Outlook for TCS for the week  (June 18, 2018 – June 22, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 5.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1760 to 1770 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1810 to 1830 where the stock has formed a high in the month of May-2018. During the week the stock manages to hit a high of 1847 and close the week around the levels of 1840.

Support for the stock lies in the zone of 1780 to 1800 from where the stock broke out after consolidation. If the stock manages to close below these levels then the stock can drift to the levels of 1720 to 1730 where the stock has taken multiple support and short term moving averages are lying.

Resistance for the stock lies in the zone of 1830 to 1840 where the stock has formed a high in the month of May-2018. If the stock manages to close above these levels then the stock can move to the levels of 1880 to 1900.

Broad range for the stock in the coming week is seen between 1770 to 1780 on downside & 1880 to 1900 on upside.