TCS Support Breakdown: ₹2,350 Is The Last Stand – If This Support Fails, Prepare For A 30-65% Downside As Per Jefferies

TCS Support Breakdown: ₹2,350 Is The Last Stand – If This Support Fails, Prepare For A 30-65% Downside As Per Jefferies

Based on the latest technical and institutional analysis, the ₹2,350 level is the critical make-or-break support for TCS. Current trading data shows the stock hovering just 2.48% above its 52-week low of ₹2,348 . Technical pivot analysis places the immediate support (S2) at ₹2,350.53, with the next support (S3) at ₹2,336.87 . Intraday traders are watching S1 at ₹2,373.97 as the first line of defense .

However, the real concern comes from Jefferies' brutal downgrade. The global brokerage has placed TCS at "Underperform" with a target price of ₹2,350 . More alarmingly, Jefferies warns that in a worst-case AI disruption scenario, sector valuations could face a further 30-65% derating from current levels . This means if the ₹2,350 support cracks, the next downside zone could be as deep as ₹1,645-₹1,800 range in an extreme bear case.

Recent price action confirms the vulnerability. TCS is trading below all key moving averages – 20-day, 50-day, 100-day, and 200-day EMA . Technical summary from March 20, 2026, shows a "Sell" rating with bearish momentum indicated by MACD and ADX signals . The only silver lining is a short-term bounce above the 5-day moving average and a high dividend yield of 4.58% cushioning the fall .

In simple terms: ₹2,350 is the final support. If this level breaks decisively, brace for a potential 30-65% decline from current levels as per Jefferies' worst-case AI disruption scenario.

Disclaimer

This content is for informational purposes only and not investment advice. Please consult your financial advisor before making any investment decisions.