EquityPandit’s Outlook for TCS for the week (March 08, 2016 – March 11, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 6.70%.

As we have mentioned last week that the resistance for the stock lies in the zone of 2330 to 2350 where the stock has created the gap on 09-02-2016. If the stock manages to close above this levels then the stock can move to the levels of 2400 where 100 Daily SMA is positioned. During the week the stock manages to hit a high of 2391 and close the week around the levels of 2358.

Support for the stock lies in the range of 2310 to 2330 where short term moving averages are lying. If the stock manages to close below this levels then the stock can drift to the levels of 2150 to 2200 where the stock has formed a short term bottom.

Resistance for the stock lies in the zone of 2400 where 100 Daily SMA is positioned. If the stock manages to close above this levels then the stock can move to the levels of 2450 to 2480 where 200 & 500 Daily SMA is lying.

Broad range for the stock in the coming week is seen between 2300 to 2320 on downside to 2460 to 2480 on upside.