Stock is likely to give a MACD bearish crossover on daily charts. Its forming rounding top kind of pattern on daily charts. Stochastics have fallen below 80 which gives early signs of trend reversal. IT major may retest the levels of 710/700/680 in near to short term. Short INFY 730 FEB CE for 22/25 rupees. Hold it till expiry for 20% ROI return. You may book profit once the premium decays below 50/60% or as per your choice.
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Disclaimer: Objective of this post is to educate and help all members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock picks are momentum picks chosen using technical indicators and for education purpose only. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.
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Stock reversed its downtrend and has moved up and tested 760 levels. So to average you can write 760 CE at current stage for 20-22 rupee premium.
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Averaged 760 CE exited with profit. 730 CE is still in loss and holding.
Trade closed: target reached
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Infy 730 CE have decayed 50%. Good to book profit now. So 730 CE gave 11 points gain and 760 CE gave 12 points gain. Overall 24k gain.