The strategy is based on repeated historic trend of TCS.

Last 3 quarters, TCS announced results, below were the stock reactions.

Jan 2012 Results - TCS rose from 1070 to 1150 within a week
April 2012 Results - TCS rose from 1070 to 1200 within a week
July 2012 Results - TCS rose from 1200 to 1250 within a week
In the last 3 quarters, each time, TCS rose after results.

Infosys again disappointed this quarter and any positive seen with TCS will confirm yet again that TCS shadows Infosys.

I am planning to buy TCS 1300 Call Option for Nov 2012 Expiry (Next month), so that i will have sufficient time to hold and also reduced risk on the downside. Its currently trading at a Premium of 50 Rs. I will buy in the next 2 to 3 days after watching the contract prices. TCS has strong support at 1240 (200 day EMA) in the short term.

Hold Period: Till November 13th (Max till Diwali), if TCS delivers good numbers. Exit immediately if results fail to push TCS share price upwards
Target: Whatever price we get after results
Max Risk: Incase TCS disappoints and rupee appreciates, premium can go down 50%
Profit Potential: If TCS comes up with good numbers and outlook, it can head to 1400 and Options premium will rise by over 100%