EquityPandit’s Outlook for TCS for the week (June 27, 2016 – July 01, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.10%.

As we have mentioned last week that minor support for the stock lies in the zone of 2565. Support for the stock lies in the zone of 2520 to 2525 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. During the week the stock manages to hit a low of 2514 and close the week around the levels of 2574.

Minor support for the stock lies in the zone of 2565. Support for the stock lies in the zone of 2520 to 2525 where medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2460 to 2480 where 200 Daily SMA and 100 Weekly SMA is lying.

Minor resistance for the stock lies in the zone of 2625. Resistance for the stock lies in the zone of 2660 where the stock has made a short term top on 02-06-2016. If the stock manages close above these levels then the stock can move to the levels of 2750 to 2770 where trend-line joining earlier highs is lying.

Broad range for the stock in the coming week is seen between 2500 to 2520 on downside to 2610 to 2630 on upside.