TCS share price may fall to Rs 4224, comparison will be available after Rs 4320
Tata Consultancy Services (TCS) is a focal point for investors watching its share price movements. The stock closed today at ₹4346.15, reflecting a decline of 0.74% from the previous trading session. With tomorrow’s trading session approaching, many are keen to understand how TCS shares might perform and what key levels to watch.
Main Points
The Indian stock market has been experiencing fluctuations recently, with TCS being no exception. The share price has shown some volatility, trading within a range of ₹4312.00 to ₹4388.00 today. Analysts suggest that the sentiment around TCS remains cautiously optimistic, primarily driven by the company’s robust fundamentals and growth potential in the IT sector.
For September 19, 2024, various predictions indicate that TCS’s share price could range between ₹4098 and ₹4810, with an average target of approximately ₹4454. This suggests a potential upward movement from today’s closing price if market conditions remain favorable.
Key Levels to Watch:
- Resistance Levels: The first resistance level is identified at ₹4422, while further resistance might be encountered around ₹4573.
- Support Levels: On the downside, critical support is seen at ₹4245 and ₹4098. If the stock dips below these levels, it could signal a bearish trend.
Recent Developments Impacting TCS
- Tax Notices to Employees: Recently, TCS employees received tax demand notices from authorities. The company has advised its employees to wait before making any payments as it anticipates that these notices may be reassessed. Experts believe there might have been errors in processing these returns.
- Market Sentiment: Despite the recent dip in share prices, analysts maintain a positive outlook for TCS due to its strong financial performance and strategic initiatives aimed at expanding its client base.
- Sector Performance: The IT sector has shown signs of recovery with Nifty IT rising by 2.5%. This trend could positively influence TCS’s share price moving forward.
A closer look at TCS’s technical indicators reveals that the stock is currently above an important level of ₹4484.28 on charts. As long as it remains above this threshold, the bullish sentiment may continue.
- Moving Averages: The short-term moving averages indicate an upward trend, suggesting that traders might consider entering long positions if the stock maintains its momentum.
- Volume Trends: Today’s trading volume was relatively low compared to previous sessions, indicating cautious trading behavior among investors.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
