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Infy: Results, Chart set up and trading strategy
Infy
With results round the corner, let us see important levels for the stock
- 1562-1565 is crucial level to watch out for
- 200 day EMA is currently around 1596
- 1618 is another important level on the upside which might act as resistance
- on the lower side it would be important for Infy to hold above 50 day EMA currently placed at 1498 level
Given the set up one may consider to sell 25 August 2022 expiry 1600 Call option. It provides yield potential of 9.5% approximately and covers risk for a rise in stock price up to 1622 till 25 Aug expiry.
Take care & safe trading....!!!
With results round the corner, let us see important levels for the stock
- 1562-1565 is crucial level to watch out for
- 200 day EMA is currently around 1596
- 1618 is another important level on the upside which might act as resistance
- on the lower side it would be important for Infy to hold above 50 day EMA currently placed at 1498 level
Given the set up one may consider to sell 25 August 2022 expiry 1600 Call option. It provides yield potential of 9.5% approximately and covers risk for a rise in stock price up to 1622 till 25 Aug expiry.
Take care & safe trading....!!!
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