EquityPandit’s Outlook for TCS for the week (October 26, 2015 – October 30, 2015):

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 2.5%.

As we have mentioned last week that support for the stock lies in the zone 2400 to 2450 where 500 Daily SMA, 100 Weekly SMA and trend-line support for the stock is positioned. If the stock manages to close below this levels then the stock can drift to the levels of 2250 where downward sloping trend-line for the stock is positioned. During the week the stock manages to hit a low of 2455 and bounce back to close the week around the levels of 2537.

Support for the stock lies in the zone of 2500 where short term moving averages and trend-line support for the stock are 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.

Resistance for the stock is lying in the zone of 2550 to 2570 where 100 & 200 Daily SMA are positioned. If the stock manages to close above this levels then the stock can move to the levels of 2700 from where the stock has sold off.

Broad range for the stock in the coming week is seen between 2470 to 2490 on downside to 2580 to 2600 on upside.