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 Trades. We also check out the Trend Cycles of it.
TCS has given closing at 1761.0 on 9th April 2020. Highest call open interest is at 2000 strike price and highest Open interest at put side is at 1760 strike. Major unwinding has been seen at call side.

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 1700 to 2000.
1. Highest Call at 2000. 
2. Highest Put at 1760. 
1. Pivot Strike at 1760.
Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles
TCS Trend Cycles
TCS is near at very important support that is 1760. If it sustains below 1760 then some move towards 1700 and 1650 can be seen. And if it protects the support at 1760, we can see some move towards 1850, 1900 and 2000. 

This may take 6 to 7 trading days to happen. Trend Cycles of TCS is on the weaker side, and shows some short cover on it. If the short cover continues with fresh buying we can see good up move in TCS. For the upside, TCS needs to be protected 1760 effectively. So make or break level for TCS is 1760. if it doesn’t protect that then move towards 1700 can be seen.

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.

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