Bear Spread Strategy on Tata Consultancy Services by HDFC Securities

Bear Spread system on TCS

Invest in TCS March 1800 Set at Rs 113

Goal a hundred and seventy

Halt Decline 70

Great deal Sizing 250.

Rationale:

1. Intense Quick make up is viewed in the TCS Futures’ exactly where we have viewed sharp increase (Prov) in the Open Interest with rate slipping by nine for each cent.
2. Inventory Selling price has broken down on the everyday chart to shut at cheapest stage considering that June 2018 with higher volumes.
3. Primary pattern of the stock turned adverse exactly where it is trading down below its five,twenty and 200 working day SMA.
   
4. Oscillators and Momentum Indicators like RSI and MACD exhibiting weakness in the shares.
5. Know-how as a sector on the lookout weak on the Charts

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Disclaimer: Nandish Shah is a Complex & By-product Analyst at HDFC securities. Sights are personalized.