Infosys has broken the resistance at top. Only higher highs are to be expected now. This is further confirmed by significant volumes and increasing delivery percentage of the stock.Option open interest changes are also supportive of the bullish view. More new Call options seem to be written at the 1700 mark, and the new Put options at 1600 mark.
With ~21 lakh Call contracts at the 1600, we can expect the stock to shoot up at 1600 due to short covering,
With ~21 lakh Call contracts at the 1600, we can expect the stock to shoot up at 1600 due to short covering,