Below are a Chart analysis of two stories for TCS March 1st week 2021
Story 1: Long
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TCS is at 05-Oct Anchored VWAP support, Also taking 200EMA support at 4H.
23.6% Retracement done from March 20 dip.
Target 1 = 3040 (50EMA Resistance at 2H)
Target 2 = 3090 (Anchored VWAP Supply Zone from 22-Jan ATH)
SL = 2830 (Below support)
Story 2: Short
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3800% Increase in call Open interest for Strike 2940
New Short positions are created Increase in OI (6%) with the decrease in Price (-3.4%)
Volume profile POC is at 2700
Anchored VWAP support from 24-July is at 2680
1D 200EMA support at 2660
2700 is a good time to add a position
Note: Above study is for educational purposes Only.
Story 1: Long
------------------
TCS is at 05-Oct Anchored VWAP support, Also taking 200EMA support at 4H.
23.6% Retracement done from March 20 dip.
Target 1 = 3040 (50EMA Resistance at 2H)
Target 2 = 3090 (Anchored VWAP Supply Zone from 22-Jan ATH)
SL = 2830 (Below support)
Story 2: Short
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3800% Increase in call Open interest for Strike 2940
New Short positions are created Increase in OI (6%) with the decrease in Price (-3.4%)
Volume profile POC is at 2700
Anchored VWAP support from 24-July is at 2680
1D 200EMA support at 2660
2700 is a good time to add a position
Note: Above study is for educational purposes Only.