Two NSE IT Giants Just Turned Bullish
TCS jumped to an Altra Score of 66.7 (Bullish) and Wipro to 63.6, signalling individual strength amid a challenging IT sector on July 28.
- Visit the stock pages: TCS, WIPRO
- Sector CNXIT , which ranks #3 for Relative Strength (Altra Sector score of 48.0 with bearish regime.)
The Indian IT sector has seen some intriguing shifts in momentum recently, with two major players, Tata Consultancy Services (TCS) and Wipro, moving into a bullish momentum regime on the same day. This simultaneous shift, as reflected by their Altra Scores, warrants a closer look, especially considering the broader market and sector context.
The Altra Score, a momentum indicator ranging from 0 to 100, gauges a stock's bullish momentum based on EMA alignment and RSI trends across daily, weekly, and monthly timeframes. A higher score, like those seen in TCS and Wipro's recent moves, indicates stronger bullish momentum. This individual strength is particularly noteworthy when contrasted with the Altra Market score, which assesses overall market breadth based on the percentage of stocks above key EMAs, and the Altra Sector score, which ranks sectors by their momentum and relative strength.
At present, the overall market presents a nuanced picture, with the Altra Market score at 54.2, indicative of mixed signals. Market breadth shows 56.0% of stocks above their 20-day EMA, 50.0% above their 50-day, and 52.0% above their 200-day, alongside a 30/20 advances-to-declines ratio. The IT sector itself registers an Altra Sector score of 48.0, ranking 3rd and signaling a bearish regime with further weakening momentum (RS RSI 45.4). This backdrop makes the individual bullish flips of TCS and Wipro stand out.
TCS (Tata Consultancy Services Ltd.)
TCS demonstrated a notable momentum shift on July 28, 2026, as its Altra Score climbed from 59.4 (Neutral) to a strong 66.7, moving it into a Bullish momentum regime. This marks a significant 15-day score trend of +16.8, suggesting a rapid improvement in its short-term technical posture. The stock's current EMA placement shows it trading above its key Exponential Moving Averages (EMAs), which are often used by traders to identify trend direction, with prices above these averages typically indicating an uptrend.
Looking at the Relative Strength Index (RSI), which measures the speed and change of price movements, TCS shows a daily RSI of 69.69, indicating strong short-term buying interest. However, its weekly RSI of 48.08 and monthly RSI of 34.58 suggest that while daily momentum is robust, the longer-term picture has been more subdued or even weaker. It's also worth noting the bearish Weekly EMA Crossover that occurred on January 31, 2025, which might be a longer-term technical signal to consider alongside the recent bullish momentum.
Despite the broader IT sector's bearish Altra Sector score of 48.0 and its lagging, weakening momentum, TCS's individual score improvement suggests a potential decoupling or a leading indicator of strength within its segment.
WIPRO (Wipro Ltd.)
Wipro also mirrored TCS's upward momentum on July 28, 2026, with its Altra Score rising from 44.1 (Neutral) to 63.6, signifying a shift into a Bullish momentum regime. This move, similar to TCS, contributes to a robust +16.8 trend over the past 15 days for its Altra Score. Like TCS, Wipro is currently positioned above its key EMAs, a technical configuration often associated with positive short-term price action and trend strength.
Examining Wipro's RSI values, the daily RSI stands at 55.97, indicating moderate short-term strength. However, its weekly RSI of 36.09 and monthly RSI of 30.79 suggest that, similar to TCS, the longer-term momentum remains under pressure. This is further underscored by a bearish Weekly EMA Crossover on January 30, 2026, which represents a longer-term technical indicator that has signalled caution.
Wipro's individual bullish flip, occurring concurrently with TCS and against the backdrop of a mixed Altra Market score and a bearish Altra Sector score for IT, highlights that specific stocks can exhibit distinct momentum patterns even within a challenged sector. While the overall sector's momentum remains a concern, these individual shifts could represent pockets of strength that active market participants monitor closely.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.