TCS stock closed today at 2215. Day Open 2236, Day High 2242, Day Low 2211.

For the last 8 months, TCS has been mostly in the range between 2000 and 2220, and 2020 has acted as a strong support level everytime. 2280 level was attempted once but it failed, and gave a big correction, and 1900 level was tested successfully recently, and it gave a big rally. 2020 is a strong buying level for TCS.

The uptrend that started on 13 Dec 2019 is still intact. However, TCS stock is facing massive resistance/selling pressure at 2230-2250 level, and it has not been able to cross it in the last 6 months, despite 5 previous attempts. This is visible clearly in the weekly chart below.The 50 week moving average has been providing constant support at lower level, and the stock has been closing above that and trending up. This set up indicates either a definitive breakout above 2300 in the coming weeks, or a breakdown below 1900 (the two outer range levels for TCS in last 6 months). As the long term trend is up, a breakout above 2300 has higher probability in the coming 3-6 months. Above 2300, the upside target will be 2500.

TCS stock has a good correlation with S&P500, Nasdaq100 indices in the US market, because majority of TCS clients are based in North America (USA, Canada) and Europe.
TCS stock has been much more stable and stronger than its competitor Infosys.

If you are interested in trading TCS stock or futures, ongoing basis, please contact us for our specific service for this purpose.  You can also use the Alpha Stock Trading Course to capture all major uptrends in TCS or any stock or index.