EquityPandit’s Outlook for TCS for the week (November 16, 2015 – November 20, 2015):

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 4.0%.

As we have mentioned last week that support for the stock lies in the zone of 2470 to 2480 where trend-line support for the stock is positioned. If the stock breaks below this levels on closing basis then the stock can drift to the levels of 2400 to 2450 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is positioned. During the week the stock manages to hit a low of 2386 and close the week at virtually the lowest level.

Support for the stock lies in the zone of 2350 where downward sloping trend-line for the stock is positioned. The stock has virtually broken all the major support levels. If the stock breaks below this levels then the stock can drift to the levels of 2200 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 2430 to 2450 where 500 Daily SMA and 100 Weekly SMA are positioned. If the stock closes above this levels then the stock can move to the levels of 2500 where trend-line resistance for the stock is lying.

Broad range for the stock in the coming week is seen between 2330 to 2350 on downside to 2430 to 2450 on upside.