F&O technique: Nandish Shah recommends bull unfold on Infosys





Infy. On Bull Unfold Technique

INFY (26-Might Expiry) Purchase 1,600 Name for Rs.32 and in addition Promote 1,640 Name for Rs.18

lot measurement 300

Technique value Rs 14 (Rs 4,200 per technique)

Most revenue Rs 7,800 if Infi closes at 1,640 or extra on the finish of twenty sixth Might.

Break Even Level Rs 1,618


Logic:

  • We now have seen lengthy buildup in infi futures the place we’ve got seen 2% addition (prov) with infi rising by 3%.
  • Infosys’ quick time period development turned optimistic because it closed above its 5-day EMA.
  • The RSI oscillator has damaged out of the oversold zone with a optimistic divergence, indicating a possible bullish reversal


Disclaimer: Nandish Shah is a Technical Analysis Analyst at HDFC Securities. He doesn’t maintain any place within the inventory. Ideas are private.

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