 "F&O Strategy: Nandish Shah recommends a Bull spread on Infosys")
BULL SPREAD Strategy on Infy
Buy INFY (26-May Expiry) 1,600 CALL at Rs 32 & simultaneously sell 1,640 CALL at Rs 18
Lot Size 300
Cost of the strategy Rs 14 (Rs 4,200 per strategy)
Maximum profit Rs 7,800 If Infy closes at or above 1,640 on 26 May expiry.
Breakeven Point Rs 1,618
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Rationale:
- We have seen long buildup in the Infy futures where we have seen 2% addition (Prov) with Infy rising by 3%.
- Short term trend of the Infosys turned positive as it has closed above its 5 day EMA.
- RSI oscillator has exited oversold zone with positive divergence, Indicating probable bullish reversal
Disclaimer: Nandish Shah is Technical Research Analyst at HDFC Securities. He doesn't hold any position in the stock. Views are personal.
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