𝗧𝗖𝗦 𝗦𝗵𝗮𝗿𝗲𝘀 𝗣𝗹𝘂𝗻𝗴𝗲 𝟴 𝗣𝗲𝗿𝗰𝗲𝗻𝘁 𝗶𝗻 𝗦𝘁𝗲𝗲𝗽𝗲𝘀𝘁 𝗙𝗮𝗹𝗹 𝗦𝗶𝗻𝗰𝗲 𝟮𝟬𝟮𝟬

𝗧𝗖𝗦 𝗦𝗵𝗮𝗿𝗲𝘀 𝗣𝗹𝘂𝗻𝗴𝗲 𝟴 𝗣𝗲𝗿𝗰𝗲𝗻𝘁 𝗶𝗻 𝗦𝘁𝗲𝗲𝗽𝗲𝘀𝘁 𝗙𝗮𝗹𝗹 𝗦𝗶𝗻𝗰𝗲 𝟮𝟬𝟮𝟬

Tata Consultancy Services stock fell over 8 percent on Wednesday. The drop marked the sharpest single-day decline since March 2020. The shares closed at Rs 2,241.70 on the NSE.

The loss erased all gains from a two-day rally. On Tuesday, TCS had gained ground during a broad rebound in technology stocks. The Nifty IT index rose more than 4 percent that day. TCS added about 8 percent across the two sessions before Wednesday.

Market experts said the stock hit strong resistance near its 100-day EMA zone of Rs 2,600 to Rs 2,605. Sudeep Shah of SBI Securities said this triggered profit-booking and fresh selling pressure.

Shah noted momentum indicators weakened. The RSI turned lower after nearing 60. The stock also slipped below the Bollinger Band midline and key moving averages. He said the Rs 2,210 to Rs 2,200 zone is now critical support. A break below those levels would invite more selling.

Harshal Dasani of INVasset PMS said the quick reversal shows the prior rebound was temporary. He said it was not the start of a sustained uptrend.

Dasani said investors should watch the 52-week low near Rs 2,206. A close below this level would weaken the technical structure further. Dasani expects the Rs 2,400 to Rs 2,450 range to act as strong resistance. He said rallies will likely face selling pressure until TCS reclaims this band with strong volume.