TCS: Results, Chart set up and trading strategy

TCS

- the zone of 3385-3420 has played an important role for the stock

From charts we observe that

- it acted as resistance in June 2021

- provided support between Aug 2021 - May 2022

- With results round the corner, the stock is trading 4-5% below that level at 3277

Given the setup,

one may consider to sell TCS 28 July expiry 3400 Call option currently around 37

The strategy has a 6% yield potential and covers for a rise up to 3437 till expiry

Take care & safe trading...!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

Trade closed: target reached:

Recommended selling around 37
CMP 5.9

We have closed the trade. Book profits and enjoy...!!! 🙂