TCS Story for March 1st week 2021

Below are a Chart analysis of two stories for TCS March 1st week 2021

Story 1: Long
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*TCS is at 05-Oct Anchored VWAP support, Also taking 200EMA support at 4H.

*23.6% Retracement done from March 20 dip.

Target 1 = 3040 (50EMA Resistance at 2H)
Target 2 = 3090 (Anchored VWAP Supply Zone from 22-Jan ATH)
SL = 2830 (Below support)

Story 2: Short
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*3800% Increase in call Open interest for Strike 2940

*New Short positions are created Increase in OI (6%) with the decrease in Price (-3.4%)

*Volume profile POC is at 2700

*Anchored VWAP support from 24-July is at 2680

*1D 200EMA support at 2660

2700 is a good time to add a position

Note: Above study is for educational purposes Only.