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Derivatives strategy by HDFC Securities: Buy Infosys' January Futures

Long build-up has been seen in the Infy Futures' accompanied by the rise in Open Interest with price rising by 1.8 per cent

Nandish Shah  |  Mumbai 

algo trading

Buy INFY JANUARY 780 Call at Rs 11

Stop Loss: Rs 4

Target: Rs 25

Lot Size: 1,200

Rationale:

-- We have seen Long build up in the Infy Futures’ yesterday where we have seen rise in Open Interest with price rising by 1.8 per cent.

-- Stock price has broken out from the last eight day's consolidation by closing above the resistance level of 778 with higher volumes

-- Stock price has also broken out from the downward slopping trendline, adjoining the high of 06-Sept and 13-January 2020

Stock Price has closed at three month high.

-- Oscillator and momentum Indicators like RSI and MACD have been showing strength on the daily and weekly charts

First Published: Fri, January 24 2020. 07:59 IST
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