EquityPandit’s Outlook for TCS for the week  (May 02, 2017 – May 05, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.60%.

As we have mentioned last week that minor resistance for the stock lies in the zone of 2350 to 2360. Resistance for the stock lies in the zone of 2380 to 2400 where Fibonacci level and 200 Daily MA is lying. If the stock manages to close above these levels then the stock can move to the levels of 2430 to 2450. During the week the stock manages to hit a high of 2344 and close the week around the levels of 2273.

Support for the stock lies in the zone of 2220 to 2250 where Fibonacci level and trend-line joining lows of 2052 and 2153 are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2160 to 2180 where lows for the month of February-2017 and Fibonacci levels are lying.

Minor resistance for the stock lies in the zone of 2310 to 2330. Resistance for the stock lies in the zone of 2380 to 2400 where Fibonacci level and 200 Daily MA is lying. If the stock manages to close above these levels then the stock can move to the levels of 2430 to 2450.

Broad range for the stock in the coming week is seen between 2180 to 2200 on downside & 2380 to 2400 on upside.