TCS Outlook for the Week (Aug 24,2020 – Aug 28,2020)

Stock is trading above 200 days rapid moving average, suggests long term pattern is bullish. EquityPandit forecasts range for the Weekly as 2450 on advantage and 2000 on drawback.

ASSISTANCE 2.
2089.00

Weekly Low: 2238.25.

RESISTANCE 2.
2393.00.

ASSISTANCE 1.
2165.00.

Weekly Support & & Resistance For TCS:.

.

Tata Consultancy Services closed the Weekly on positive note gaining +0.29%.

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

Weekly High: 2289.00.

TCS Share Price: 2248.60 (NSE).

TCS type pattern on chart called Diamond Top, its a reversal pattern and its has broke down the pattern as we see in chart. TCS fail to break resistance level, as on day-to-day chart stock might see some long relaxing in next couple of trading sessions.

RESISTANCE 1.
2332.00.

For the Week: (Aug 24,2020– Aug 28,2020).

Weekly Range: 50.75 Points.

Technically on the daily charts EquityPandits Analyst see: Minor support on the disadvantage lies at 2165 levels, Minor resistance on the benefit is topped around 2393 levels.

SECTOR: I.T.

Tata Consultancy Services closed the Weekly on positive note gaining +0.29%Acquiring

SECTOR: I.T.