Break Out pattern observed in TCS, along with the following fundamental supports:
Currently there are 5.56L Call options at 3,400; however the trend is shifting towards an even higher price...3,500. If the stock breaches 3,400 we can expect a short squeeze that would propel this even further. It is interesting to note that the stock reached higher highs and ended at 3,380; despite the resistance at 3,400.
We can expect a good profit around Jul 8
- Large delivery volumes for the past month, which has only been increasing on a weekly basis
- Expected great returns from the IT industry, and the earnings are expected to be announced on Jul 8
- Higher proportion of Puts written and Significant number of Puts being written close to the LTP
Currently there are 5.56L Call options at 3,400; however the trend is shifting towards an even higher price...3,500. If the stock breaches 3,400 we can expect a short squeeze that would propel this even further. It is interesting to note that the stock reached higher highs and ended at 3,380; despite the resistance at 3,400.
We can expect a good profit around Jul 8