TCS Weekly Outlook and Analysis:

For the Week: (Sept 07,2020 – Sept 11,2020)

BSE: 532540| NSE: TCS | ISIN: INE467A01029 | SECTOR: I.T

Tata Consultancy Services closed the Weekly on positive note gaining +2.24%

TCS Share Price: 2288.80 (NSE)

Weekly High: 2324.25

Weekly Low: 2228.00

Weekly Range: 96.25 Points

Weekly Support & Resistance For TCS:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2165 levels, Minor resistance on the upside is capped around 2393 levels.

If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 2089 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 2393.

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit predicts range for the Weekly as 2400 on upside and 2050 on downside.

TCS is trading and sideways accumulation zone and once breaks the resistance we may see upside in the stock, Chance of breaking the resistance levels are high as stock over  all trend is up and for the next leg of rally smart money accumulation has been seen on the charts, In the coming weeks Rupee may also get weaken as dollar index is trading at important support levels, emerging market currencies may get weaken giving strength to IT Stocks.