Script: IDEA
CMP: 10.10; Futures: ~ 10.15
Lot size: 70,000
It seems major resistance between 10.15 to 10.40. Tomorrow is perhaps also board meeting for Q4 2020-21. Other than new subscriber additions in Urban/metro areas, there seems to be little scope for positive surprises, excluding of course fund raising related announcements.
But considering principle of "Too big to fail or to be allowed to fail", it seems to be a bull case scenario to me.
So, I am expecting few days of bearish trend related to results, but overall bullish.
So, if I intend to transform this view in a F&O position for July expiry, then:
Buy two lots of 9.00 PE @ ` 0.30 (of which one to be sold, if in profit, tomorrow 30-Jun itself)
Buy one lot of Futures @ ~ 10.15
(not a trading recommendation, just a paper trade)