TCS, HCL Tech, and Tech Mahindra: Profitable Predictions and Strategies Revealed

Greetings, fellow market traders! As always, it was another profitable week for those who watched my pre-market YouTube videos. This is because the daily index analysis provided benefitted both option buyers and sellers. For those who missed it—well, what can I say? You’re missing out on some great analysis of stocks and indexes! So go and hit that subscribe button.

Speaking of analysis, today I will cover three stocks and one index. The article will cover Tata Consultancy Services (NS:TCS). At the same time, the YouTube video shared below analyses HCL Tech (NS:HCLT), Tech Mahindra (NS:TEML), and Nifty Midcap. I covered these stocks via a video, as they require a slightly different approach due to their more intricate chart patterns. Additionally, I looked at Midcap Nifty because of its expiry. This is as I release a daily video analysing the index expiring that day. In these videos, I share some profitable expiry strategies for both option buyers and sellers.

Spot-On Predictions and the Road Ahead for TCS:

Now, the week before last, I analysed the stock on my YouTube channel. I shared that I expect the stock to fall to my support range between ₹3,940 and ₹3,980. This was a correct prediction, as on Thursday we fell to ₹3,968, which was a sweet vindication of this bearish prediction of mine. This is as traders bullish on the stock did not like the analysis, but the technicals supported my view.

Moving forward, TCS will be entering a potential period of consolidation ahead. Thus, if the stock remains above my support at ₹3,900, then we can expect a box range to form between ₹4,150 and ₹3,900. However, a breach below the ₹3,900 support would trigger a decline towards ₹3,820 and even ₹3,750. Conversely, a breakout above the ₹4,150 resistance can propel it towards ₹4,300 and even ₹4,450.

My Trading Strategy: A Wait-and-See Approach:

Consistent with what I shared in my YouTube video, I have exited all previous option positions in TCS. This is why I am currently adopting a wait-and-see approach as I allow the stock to dictate its next move. The crucial levels to monitor are the support at ₹3,900 and the resistance at ₹4,150. Until a breakout occurs in either direction, I will remain on the sidelines. However, a break below ₹3,900 would prompt me to enter a short position with a target of the aforementioned support levels. Conversely, a break above ₹4,150 would lead to me entering a long equity position targeting the resistance levels.

Beyond TCS: Lucrative Opportunities Await:

In conclusion, TCS has followed my script to the tee. However, the current outlook suggests a potential period of consolidation. Hence, until a breakout occurs, there is no compelling reason to actively trade TCS.

Lastly, do not forget to check out my YouTube video for a detailed analysis of HCL Tech and Tech Mahindra. This is because both stocks present lucrative opportunities for traders and investors. Additionally, for those navigating the choppy waters of the Midcap Nifty expiry, my video offers invaluable guidance on crafting a winning options strategy.

Happy trading!

NB: The link to the YouTube video I discussed above is: https://youtu.be/EZr6JmUnFjM