TCS, AR Wealth, Tata Elxsi: YES Securities suggests caution on 3 result bound stocks

Indian benchmark indices settled modestly lower on Wednesday after a range bound session. Traders focused shifted towards India Inc’ corporate earnings amid rising tension over Trump tariffs. BSE Sensex dropped 176.43 points, or 0.21 per cent, to settle at 83,536.08, while NSE’s Nifty50 shed 46.40 points, or 0.18 per cent, to close at 25,476.10 for the day.
 

Select buzzing result-bound stocks including Tata Consultancy Services, Anand Rathi Wealth and Tata Elxsi likely to remain under the spotlight of traders for the session today. Here is what Laxmikant Shukla, Senior Technical Analyst at YES Securities has to say about these stocks ahead of Thursday’s trading session:
 

Tata Consultancy Services | Caution | Resistance: Rs 3,500 | Support: Rs 3,350

TCS is poised for a potential breakdown from a descending triangle pattern on the daily timeframe, suggesting a negative trend. For sellers to gain significant control, the stock needs to drop below the Rs 3,350 level.  Compounding this bearish outlook, the price is currently trading below its major SMAs, further indicating weakness. The MACD indicator also supports this negative sentiment with its MACD line having crossed below the signal line, confirming selling interest. This bearish sentiment is likely to persist as long as TCS remains below the Rs 3,500-3,540 resistance zone.
 

Anand Rathi Wealth | Caution | Resistance: Rs 2,200 | Support: Rs 2,000

Anand Rathi Wealth is witnessing profit booking After a strong rally from Rs 1,641 to Rs 2,185, suggesting a possible correction or consolidation in its uptrend. The appearance of multiple doji candlesticks reinforces this likelihood of a slowdown.  Immediate support is expected around Rs 2,000. A break below this level could extend the decline toward Rs 1,900-1,880. The bearish outlook is likely to persist unless the stock manages to break above the key resistance zone of Rs 2,185-2,200.
 

Tata Elxsi | Caution | Resistance: Rs 6,400 | Support: Rs 5,859

Tata Elxsi has plummeted from its swing high of Rs 6,735 with the formation of lower tops and lower bottoms. This selloff has pushed to drop below its 20- and 50-days moving average. Daily momentum indicator RSI is also showing negative cues. Going ahead, if the support zone of 6050-5850 is saved, an oversold bounce shall be expected towards Rs 6,400-6,500 levels. On the flip side, a failure to hold the mentioned support would weaken the stock further and it can slip down till Rs 5,400 levels.