Smartinvestor : Markets have slumped in early trades amid disappointing Infosys Q4 results. The Nifty has slipped below 5,550. What strategy should traders adopt for the index for April futures?
Chandan Taparia : Overall immediate Market trend is negative and it is not holding the bounce back move. On downside it has strong support around 5500 levels wheras multiple resistances at 5620, 5660 then 5720 levels.
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Chandan Taparia : If comes near to support territory then trade bullish for bounce back move with Call option
Smartinvestor : Infosys is the most active stock in the options segment on the NSE. The stock has registered contracts at various strike prices ranging from Rs 2,350 and Rs 3,100. What strategy should investors adopt for the stock for April options expiry?
Chandan Taparia : IT major INFY failed to hold 3000 levels and sustain selling was seen with huge Call writing at 3000 and 3100 strike. It fell down sharply this morning after the disappointing result.
Chandan Taparia : Now if it sustains above 2600 levels then only we may expect short covering move and momentum in the stock.
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