EquityPandit’s Outlook for TCS for the week  (May 21, 2018 – May 25, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 1.30%.

As we have mentioned last week, that resistance for the stock lies in the zone of 3550 to 3600 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 3700 to 3750. During the week the stock manages to hit a high of 3533 and close the week around the levels of 3502.

Minor support for the stock lies in the zone of 3400 to 3430. Support for the stock lies in the zone of 3250 to 3300 from where the stock broke out of January-2018 high. If the stock manages to close below these levels then the stock can drift to the levels of 3100 to 3150 from where the stock broke out of March-2018 high.

Resistance for the stock lies in the zone of 3550 to 3600 where the stock has formed a double top pattern. If the stock manages to close above these levels then the stock can move to the levels of 3700 to 3750.

Broad range for the stock in the coming week is seen between 3300 to 3350 on downside & 3650 to 3700 on upside.