TCS hits 52-week low; slips 11% in six days

17 Jun 2022 , 02:23 PM

Shares of the IT major slumped 11% in six trading sessions from its previous closing high of Rs 3,426.55 on 9 June 2022. The stock hit its 52-week low of Rs 3,023.35 today. The counter has corrected 24.62% from its 52-week high of Rs 4,045.50 hit on 18 January 2022. On the BSE, 2.35 lakh shares were traded in the counter so far compared with average daily volumes of 97,000 shares in the past two weeks. In last one month, the stock has fallen 11.66%, underperforming the Nifty 50 index which slipped 6.08% in the same period. In daily chart, the stock is trading below its 50, 100 and 200 days simple moving average (SMA) placed at 3,434.63, 3,563.61and 3,625.14 respectively. These levels will act as crucial resistance zones in near term. On the technical front, the stocks daily RSI (relative strength index) stood at 27.891. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. Its consolidated net profit rose 1.61% to Rs 9,926 crore on 3.49% increase in net sales to Rs 50,591 crore in Q4 FY22 over Q3 FY22. Powered by Capital Market – Live News