One can go long at or above 1060 with SL at 1030 for T1 - 1090 and T2 - 1120
alternatively one can go short on 960PE at 6.5 and 1200 at 4.25 for 8% returns in a month. (liquidity and slippage issue will be there)
one can go short on 1000 PE at 14 and 1140 at 9.20 for better returns with higher risk in a month.
Please understand the downfalls of options writing (unlimited loss) before trading. Also have a risk management in-place.
Please keep a watch on any budget bonanza for textile industry which might affect this stock and trade accordingly.
1140 CE at 1 1000 PE at 50 = -27.8 points loss so far (this might give Cost to cost exit)