EquityPandit’s Outlook for TCS for the week  (Oct 29, 2018 – Nov 02, 2018) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 6.00%.

As we have mentioned last week, that minor support for the stock lies around 1880 to 1900. Support for the stock lies in the zone of 1820 to 1840 where Fibonacci levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1750 to 1770 where long term moving averages are lying. During the week the stock manages to hit a low of 1791 and close the week around the levels of 1800.

Support for the stock lies in the zone of 1750 to 1770 where long term moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1660 to 1680 where long term Fibonacci levels are lying.

Minor resistance for the stock lies around 1840 to 1860. Resistance for the stock lies in the zone of 1900 to 1920 from where the stock has broken down. If the stock manages to close above these levels then the stock can move to the levels of 1980 to 2000 where Fibonacci levels and medium term moving averages are lying.

Broad range for the stock in the coming week is seen between 1660 to 1680 on downside & 1900 to 1920 on upside.