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TCS

TCS: At important resistance levelTCS 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
NSE:TCSShort
by indiamarketoutlook
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