TCS April futures OI soars to 6 month high. What's it signaling?
TCS shares ended 0.2 per cent higher at Rs 3,322.20 Friday on the BSE, after hitting a record high of Rs 3,358.80. It has gained 18 per cent in the last six months and 88 per cent in the past year.
Synopsis
Analysts are recommending the bull call spread to reduce the cost of the premium, as they do not want to take a directional trade given that the stock has already run up significantly. The outlook is bullish.
Mumbai: Open interest in Tata Consultancy Services’ current month futures is at the highest in six months, as traders mount bullish bets on the IT major ahead of its March quarter results announcement on Monday.
A strong earnings outlook for the IT sector has prompted traders to add long positions, pushing the open interest higher. TCS is expected to maintain its leadership in the IT space in terms of margin expansion and revenue growth, driven
ET Bureau
3 mins read, Last Updated:
Share This Article
GIFT ARTICLE
FONT SIZE
AbcSmall
AbcMedium
AbcLarge
SAVE
COMMENT
Sign in to read the full article
You’ve got this Prime Story as a Free Gift
Choose Payment Mode & Plan
Introductory Offer
₹99 for 2 months
Then ₹2,499 for 1 year (₹208 per month)
You can cancel your subscription anytime
Yearly
₹2499
15 Days Trial
₹399/month
Monthly
PLAN
Billed Amount ₹399
No Trial Period
₹399
₹208/month
(Save 49%)
Yearly
PLAN
Billed Amount ₹2,499
15
Days Trial
+Includes DocuBay and TimesPrime Membership.
₹399
₹150/month
(Save 63%)
2-Year
PLAN
Billed Amount ₹3,599
15
Days Trial
+Includes DocuBay and TimesPrime Membership.
