Infy: Chart view & strategy

Infy

Observation

675 minor resistance

691 - 696 - Critical resistance zone..

Consider selling if you see price rejection around resistance levels.

Targets mentioned in the chart. Momentum on the downside might be seen if Infy closes below the 1st target of 637
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Alternatively consider selling Infy 28-May expiry 700 Call option

Lot size 1200

Price around 20-25

In built loss protection for a rise in Infy price up to 720-725 in cash market on 28 May 2020.

Max profit potential Rs 24000 - Rs 30000/- per lot

Take care & safe trading...!!!

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Comment:

Recommended selling Infy 28-May expiry 700 Call option between 20-25

Made a high of 24.90

Currently trading at 14.5

Trade active:

Infy 700 Call option

Sold at 24

CMP 7.55

Current profitability 1200*24-7.55)= Rs 19740/- per lot

Infy did come up to 720 & closed at 715 after 20 lakh Cr package was announced. But as our strategy had us covered for a rise up to 724, we could get pass the News noise

Happy trading...!!!

Trade closed manually:

INFY 720 Call update

Cmp 6

Net profit 1200*( 24 - 6 )= Rs 21,600/- per lot

Consider booking profits as per risk appetite

Happy trading