TCS shares rally 8% in 2 days. Time to buy after sharp 32% crash in 2026? Here’s what technical charts indicate

TCS shares rose to Rs 2,204.90 on NSE, gaining 7% in a week though still down around 32% year-to-date in 2026. The rally was triggered by a multi-million, multi-year deal with ABB to deliver AI-driven global network operations under a network-as-a-service model. Q1 FY27 results showed 5% YoY growth in consolidated net profit to Rs 13,349 crore and around 14% YoY revenue growth to Rs 72,275 crore, with total contract value of $9.5 billion. Technical analysts remain divided; the 2,190-2,200 zone is flagged as immediate resistance and Rs 1,976 as key support, with some viewing the move as a rebound within a downtrend rather than a reversal.