Tata Consultancy Services Limited (TCS) Stock - Complete Technical Analysis - Nov 27, 2024

TCS Stock Analysis: Bullish Momentum vs Bearish Reversal Target, Support & Resistance Levels

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Tata Consultancy Services (TCS) stock is currently priced at 4,332.55, hovering close to its 52-week high of 4,592.25. The price action indicates a potential consolidation, but the stock is showing strength as it trades 26.20% above the 52-week low. The Relative Strength Index (RSI) is sitting at 63.78, suggesting TCS is nearing overbought levels but still maintains upward momentum. The MACD shows bullish market sentiment, while the Awesome Oscillator supports this with a solid reading, indicating positive momentum.

However, caution is advised as the stock formed an Evening Star pattern, which suggests a bearish reversal. Traders should watch closely for price action near the resistance at 4,377, which aligns with previous highs. If TCS fails to break above this level, it may see a pullback towards the next support around 4,320.

A critical level to watch is 4,200 for potential further downside if the bearish pattern plays out. Overall, the stock offers a mixed outlookpositive indicators like MACD and Awesome Oscillator suggest potential upside, but traders should remain cautious of the bearish reversal signal.

Key levels to watch:

Immediate resistance at 4,377; potential breakout targets 4,400 to 4,500.

Support near 4,320; lower support around 4,200.

Caution around the Evening Star pattern for possible bearish reversal.