TCS - Analysis for Swing and Intraday Trading

TCS is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this, we have analyzed Bajaj Finance : You can check here.

TCS  Option Front :
TCS has given closing at 2115.2 on 25^th June 2020. Highest call open interest is at 2100 strike price, followed by 2200 and highest Open interest at put side is at 2000 strike followed by 1900.

Trading Range Of TCS 

Now time to find out the trading range of the TCS. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the TCS. Trading range seems to be 1900 to 2200.

1. Highest Call at 2100. 

2. Highest Put at 2000. 

1. Pivot Strike at 2100.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles

 

TCS Cycles

Conclusion:

TCS is near at very important resistance that is 2100. If it sustains below 2100 then some move towards 2000 and 1900 can be seen. And if able to sustain above the resistance at 2100, some short cover may take it towards 2200.

This may take 6 to 7 trading days to happen. In the last two days, TCS has given long unwinding-short cover. If we get another long or short cover then 2200 will be on the cards otherwise 2000 and 1900 can be seen. These all depends on the pivot level 2100 as it is the make or break level for the TCS.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.

 You can check here Daily Nifty and Bank Nifty Analysis.

Learn From Pro traders