TCS: At important resistance level
Updated
TCS
Closing Price 3165
Looking at the charts, TCS is once again near important resistance levels.
The red dotted line that you are looking at is not drawn after the stock has taken support but was identified way back on January 29, 2021. Take a look at the chart below... (this is an hourly chart of TCS posted on 29th Jan 2021)
As you can see the stock has taken support exactly at important level identified with the help of Technical Analysis.
Going forward, we see the stock is once again at important resistance levels.
Given the set up, one may consider to sell TCS 29 April 2021 expiry 3300 Call option. Closing price is 62
Be cautious if TCS closes above 3231 in Cash Equity market.
Max profit potential in strategy Rs 18600/- per lot... More importantly, In built loss protection for a rise in stock price up to 3362 (Loss protection of approximately Rs 66000/- from current TCS spot levels )
The strategy gives a good return potential and ample opportunity to adjust / exit in case the stock goes the other way...
Take care and 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
Closing Price 3165
Looking at the charts, TCS is once again near important resistance levels.
The red dotted line that you are looking at is not drawn after the stock has taken support but was identified way back on January 29, 2021. Take a look at the chart below... (this is an hourly chart of TCS posted on 29th Jan 2021)
As you can see the stock has taken support exactly at important level identified with the help of Technical Analysis.
Going forward, we see the stock is once again at important resistance levels.
Given the set up, one may consider to sell TCS 29 April 2021 expiry 3300 Call option. Closing price is 62
Be cautious if TCS closes above 3231 in Cash Equity market.
Max profit potential in strategy Rs 18600/- per lot... More importantly, In built loss protection for a rise in stock price up to 3362 (Loss protection of approximately Rs 66000/- from current TCS spot levels )
The strategy gives a good return potential and ample opportunity to adjust / exit in case the stock goes the other way...
Take care and 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 active
TCS CMP 3212TCS 3300 Call Option CMP 78.5
Trade is active
TCS result is expected on April 12, 2021
The idea is same. I would be cautious is TCS trades above 3232 but at current levels, Reward potential is Rs 23550 per lot till expiry and the strategy provides a risk cover for a rise in price up to 3378.50.
Take care & safe trading...!!!
Trade active
TCS CMP 32723300 Call Option 87.50
Stock is 60 points up from 3212 levels
Loss in strategy so far is 9 points
Result announcement expected after market hours today,
So we would get the reaction in tomorrow's trade.
Data analysis suggests important levels on the upside 3392 / 3415 / 3454
Important levels at lower side 3213-3196 zone
If that is taken out 3120-3096 level
Our strategy gives us the protection for a rise in TCS stock price up to 3378.50 till 27 April 2021 expiry.
We continue to hold and would Review / readjust if needed in tomorrow's trade
Till then Take care & be safe..!!!
Note
Outcome: In first 15 mins itself we see TCS dropping to 3104 levels .
So still want to trade on NEWS or trade on the basis on Technical & Derivatives Analysis. Despite result announcement NEWS event, Derivatives Data did not warrant us any further spike.
Our strategy update
TCS 3300 Call option sold at 78.50
CMP 18.50
Profit of 60 points (Rs 18000/- per lot) for the taking....!!!
Enjoy & happy trading 😊
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