soumitra_chakravarti

TCS Short | TCS appearing to lose momentum and may correct

Short
NSE:TCS   TATA CONSULTANCY S
NSE:TCS

It's time for a correction in this stock, the momentum at which it's touching previous higher valuation is significantly less in-spite of earnings .
Trade Ideas:
  • If TCS is a big chunk of your portfolio (which is true for most of investors) you may want to think of booking some profits at these levels
  • You can hedge your risk by buying 0.55 delta PE in May, quantity should roughly match with your portfolio allocation
  • You can short May and June future contracts
  • You can sell CE May and June contracts
  • You can draw a trend line after the stock starts correction and look for intraday short and pullback opportunities
Trade active: Position filled, keep a look at earnings projection 20.95 estimated for 9th July may be less. This trade will take some sweet time
Trade active: Stay Short, let’s see how the market responds on Monday
Trade closed manually: Closed position early booked at 2150

Comments

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