EquityPandit’s Outlook for TCS for the week  (Sep 04, 2017 – Sep 08, 2017)  :

TATA CONSULTANCY SERVICES:

TCS closed the week on negative note losing around 1.60%.

As we have mentioned last week, that minor support for the stock lies in the zone of 2460 to 2480. Support for the stock lies in the zone of 2400 to 2430 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2350 to 2360 where trend-line support and 200 moving averages are lying. During the week the stock manages to hit a low of 2436 and close the week around the levels of 2456.

Support for the stock lies in the zone of 2430 to 2440 where short and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 2370 to 2400 where trend-line support and 200 moving averages are lying.

Minor resistance for the stock lies in the zone of 2480 to 2500. Resistance for the stock lies in the zone of 2550 to 2580 where the stock has formed a top in the month of July-2017 and August-2017. If the stock manages to close above these levels then the stock can move to the levels of 2700 where the stock has formed a top in the month of June-2017.

Broad range for the stock in the coming week is seen between 2350 to 2380 on downside & 2550 to 2580 on upside.