BUY INFY AUG 1560 CE For Target Rs.58 - Religare Broking
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Derivative Ideas
INFY gained 1.16% and closed at 1532.9 on 21st July. The stock after taking the support at 1400 levels has been on a positive streak from past 4 sessions.The move happened on the back of VWAP based buying on the addition of Significant longs in its FUTS. The short covering among the CE writers was also seen. The data suggests the stock to test 1560-1580 levels in the short term. We thus suggest buying CE of August Expiry as per the recommended levels.
Strategy:- BUY INFY AUG 1560 CE@34-36, STOP LOSS 24, TARGET 58.
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