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

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