Shares of IT companies were trading on a mixed note in Tuesday's intra-day trade ahead of the Q2 earnings season. IT giant TCS is scheduled to
announce the September quarter results on Thursday, October 9, 2025.
Thereafter, over the next 10 days, HCL Technologies will report its Q2FY26 earnings on October 13, Tech Mahindra on October 14 and IT bellwether Infosys on October 16.
So far in FY26, IT stocks have under-performed on the stock exchanges with TCS down more than 16 per cent. Infosys and HCL Technologies have shed 5 per cent and 10 per cent, respectively. In comparison, the
Nifty IT index has slipped 5.9 per cent, while the NSE benchmark Nifty 50 index has rallied 6.7 per cent.
Given this background, here's a technical outlook on the 4 prominent IT stocks on the NSE ahead of Q2 results.
TCS
Current Price: ₹2,965
Likely Target: ₹3,270 / ₹2,655
Upside Potential: 10.3%
Downside Risk: 10.5%
Support: ₹2,890; ₹2,750
Resistance: ₹3,049; ₹3,160
TCS stock faces an overhead resistance at ₹3,049, above which the stock can potentially rally to ₹3,270, with interim resistance visible at ₹3,160. Breakout above ₹3,270 is the key for an extended rally.
On the downside, the recent lows around ₹2,890 should act as support, below which the stock can drift to ₹2,655 - wherein stands the 100-Month Moving Average (100-MMA). Interim support can be anticipated around ₹2,750.
ALSO READ : TCS Q2 earnings preview Infosys
Current Price: ₹1,467
Likely Target: ₹1,635 / ₹1,350
Upside Potential: 11.5%
Downside Risk: 8%
Support: ₹1,414; ₹1,390
Resistance: ₹1,523; ₹1,616
Infosys stock has witnessed a choppy ride in recent days. Near resistance for the stock stands at ₹1,523; above which the 200-DMA at ₹1,616 is likely to act as a key hurdle. Infosys needs to break above ₹1,635 levels for the long-term trend to turn favourable.
On the downside, the stock has strong support around ₹1,350, with interim support likely around ₹1,414 and ₹1,390 levels.
HCL Technologies
Current Price: ₹1,420
Likely Target: ₹1,565 / ₹1,278
Upside Potential: 10.2%
Downside Risk: 10%
Support: ₹1,380; ₹1,345; ₹1,295
Resistance: ₹1,436; ₹1,470
HCL Technologiesshare has been trading below the trend line hurdle post the breakdown following the Q1 results. The key near-term hurdle stands at ₹1,470, with 20-Day Moving Average (20-DMA) at ₹1,436 seen as near resistance. The upside for HCL Tech seems capped around ₹1,565.
On the downside, the stock may slip towards the 200-Week Moving Average (200-WMA), which quotes around ₹1,295 levels, or drift lower towards the 50-MMA at ₹1,278. The stock may seek intermediate support around ₹1,380 and ₹1,345 levels.
Tech Mahindra
Current Price: ₹1,435
Likely Target: ₹1,615 / ₹1,225
Upside Potential: 12.5%
Downside Risk: 14.6%
Support: ₹1,421; ₹1,395; ₹1,300
Resistance: ₹1,484; ₹1,517; ₹1,550
Tech Mahindra share price has been testing support around its 100-WMA, at ₹1,421 for the last three weeks. Earlier in April 2025, too, the stock bounced back after testing this key average. Near support for the stock can be anticipated around the recent lows at ₹1,395. A downside break could see the stock crack towards ₹1,225 levels, with support likely around ₹1,300-mark.
On the other hand, the stock can spurt towards ₹1,517 in the near-term, with some resistance seen around ₹1,484 levels. The rally can potentially stretch towards ₹1,615, with interim resistance around ₹1,550, suggests the weekly chart.
 "TCS vs Infosys vs HCL Tech: Here's the best IT stock for your portfolio")
