EquityPandit’s Outlook for TCS for the week (May 09, 2016 – May 13, 2016):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 2.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 2550 where the stock has made a short term top. If the stock manages to close above these levels then the stock can move to the levels of 2650. During the week the stock manages to hit a high of 2530 and close the week around the levels of 2473.

Support for the stock lies in the zone of 2460 to 2480 where 200 & 500 Daily SMA and 100 Weekly SMA is lying. If the stock manages to close below these levels then the stock can drift to the levels of 2380 to 2400 where 100 Daily SMA is lying.

Resistance for the stock lies in the zone of 2530 to 2550 where the stock has made a short term top. If the stock manages to close above these levels then the stock can move to the levels of 2650.

Broad range for the stock in the coming week is seen between 2420 to 2440 on downside to 2520 to 2540 on upside.