EquityPandit’s Outlook for TCS for the week (March 21, 2016 – March 23, 2016):  

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.50%.

As we have mentioned last week that the support for the stock lies in the range of 2300 to 2320 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. During the week the stock manages to hit a low of 2307 and bounce to close the week around the levels of 2425.

Support for the stock lies in the zone of 2350 to 2380 where 100 Daily SMA is lying. If the stock manages to close below this levels then the stock can drift to the levels of 2300 to 2320 where short term moving averages are lying.

Resistance for the stock lies in the zone of 2450 to 2480 where 200 & 500 Daily SMA is lying. If the stock manages to close above this levels then the stock can move to the levels of 2550.

Broad range for the stock in the coming week is seen between 2350 to 2380 on downside to 2480 to 2500 on upside.