Sep. 13 at 3:18 PM
$TCS.NSE
On the weekly chart,
$TCS (₹3,133) remains in a downtrend with a series of lower highs and lower lows, trading below all major moving averages (20 EMA ₹3,300; 50 EMA ~₹3,700; 100 EMA ~₹3,950; 200 EMA ~₹3,550), which confirms persistent selling pressure.
The RSI (38) stays in bearish territory, the MACD remains
$NEGATIVE, and Parabolic SAR dots above candles signal that sellers still dominate. Price is consolidating in a ₹3,050–₹3,250 range, where a breakdown below ₹3,050 may extend weakness towards ₹2,950–₹2,800, while a breakout above ₹3,300 with strong volume could allow a relief rally towards ₹3,550–₹3,700.
Alongside
$TECHNICAL weakness, key events are also influencing sentiment: the US HIRE Act outsourcing tax proposal raises uncertainty over client spending, which may pressure downside levels; the 12,000 employee layoffs reflect efficiency focus but could weigh on morale; however, the €550M Tryg deal win adds revenue visibility and may trigger a short-term bounce if reflected in order inflows. Meanwhile, the Bengaluru lease expansion shows confidence in long-term growth but increases fixed costs.
Overall, the
$CHART signals a bearish bias near critical support, with upcoming events and global policy risks likely to decide whether the
$STOCK breaks lower or attempts a consolidation-led recovery.
