TCS bottomed out by posting an intra-week low of Rs 545.50 during
week ended 22nd April 2005, staged a smart rally but ran into resistance from the 672 level during the week ended 4th June 2005 to finally peak at an intra-week high of Rs 685 during the week ended 08th July 2005. The scrip couldn’t sustain these levels for long, entered a rather sharp corrective phase only to recovered smartly to peak by posting an intra-week high of Rs 1049.50 during the week ended 21st April 2006. TCS declined from here, gave a recovery, overcame its recently posted high, entered a medium term uptrend, took support on the 55-week EMA, appreciated to peak at an intra-week high of Rs 1399 during the week ended 19th January 2007. The scrip dedined sharply from here, received support from the 800 level to bottom out at Rs 719.10 during the week ended 18th July 2008. Currently, TCS is in the process of commencing medium term uptrend and a further upside cannot be ruled out.
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