259.75
80,501.99
0.32%
Market Closed
1,421.95
0.97%
1,924.55
0.04%
14.15
3,443.8
0.41%
1,852
-0.63%
1,431.75
0.65%
11.9
800.05
1.51%
1,506.45
0.5%
2,323.15
-0.77%
8,862.25
2.62%
4.85
430.15
1.14%
792.55
-0.35%
3,341
0.01%
1,824
-0.34%
2,175.9
-1.36%
1,571.5
0.48%
12,409.2
1.21%
1,182.15
-0.15%
2,930.35
0.18%
-5.7
348.8
-1.61%
11,645
0.05%
1,955
0.13%
-0.8
243.4
-0.33%
4,493.95
0.17%
3,339.35
-1.09%
304.05
-0.85%
4,060.5
-3.04%
2,293.15
-0.2%
1,267.05
4.11%
1.25
242.75
0.52%
-56.15
972.15
-5.46%
384.4
-0.21%
651.85
1.2%
2,409.45
-0.57%
-54.35
2,331.1
-2.28%
311.25
-0.84%
234.25
0.75%
-227.95
7,801
-2.84%
524.9
-1.33%
5,346
1.95%
143.35
3.95%
2,715.05
-0.76%
428.4
-2.37%
-27.65
5,145.75
-0.53%
1,763.45
0.1%
524.15
0.6%
141.3
1.11%
13.1
686.85
1.94%
258.7
-0.63%
414.95
-1%
124.15
-0.16%
259.75
80501.99
0.32%
Market Closed

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ValueProductView

ValueProductPastPerformance

Company NameReco DateReco PriceExit PriceExit Date% ReturnIn days
Bharat Forge Ltd. 25/07/20241,593.85952.3007/04/2025 -40.25% 256 days
ITC Ltd. 28/12/2023464.20487.5002/01/2025 5.02% 1 yrs
Britannia Industries Ltd. 27/07/20234,875.805,028.2512/11/2024 3.13% 1 yrs
JSW Steel Ltd. 22/02/2024826.951,003.0026/09/2024 21.29% 217 days
Bajaj Auto Ltd. 22/08/20249,910.0011,930.0017/09/2024 20.38% 26 days
Dr. Reddy's Laboratories Ltd. 26/10/20235,429.306,536.0005/07/2024 20.38% 253 days
Shriram Finance Ltd. 25/04/20242,430.102,955.0028/06/2024 21.60% 64 days
Coal India Ltd. 25/01/2024389.50501.6022/05/2024 28.78% 118 days
Infosys Ltd. 27/10/20221,522.601,411.6019/04/2024 -7.29% 1 yrs
State Bank Of India 25/05/2023581.30782.0505/03/2024 34.53% 285 days

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TCS bounces from upward sloping trendline support
Vinayak Gangule
/ Categories: Trending

TCS bounces from upward sloping trendline support

Considering the weekly time frame, the stock of Tata Consultancy Services Limited has bounced back from the edge of the rising trendline support that is formed by connecting swing lows from November 2018. The reversal from the support is confirmed by the above 50-week average volume. 

Currently, the stock is trading above its short and long-term moving averages, i.e. 50-week EMA, 100-week EMA and 200-week EMA. Among the momentum indicators, the 14-period weekly RSI took support at 40-level historically many times and this time also, it bounced exactly from the same level. The daily stochastic is suggesting some bullish strength as per cent K is above the per cent D.

The Ichimoku chart on the daily time frame is clearly giving a positive view as it closed above the KS and TS lines. Moreover, on daily scale the Know Sure Thing (KST) has also given a bullish crossover.

Going ahead, the level of Rs 2,047 is likely to act as an immediate support. While the major support is placed in the zone of Rs 1,985-Rs 1,970 as it is the confluence of 100-week EMA and upward sloping trendline support. On the higher side, the level of Rs 2,150 followed by Rs 2,180, would be seen as the next resistance zone for the stock.

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