This Week trading has been very Volatile. When I say Volatile it is not following the Technical or Fundamentals. I think we just need to Trade based on Levels. And the last two days if it opened Gap DOWN, it Reversed UP and if opened GAP UP, it reversed down. But still of one followed the Price action would have made some minimum profit. Like Today the SELL triggered below 5947 and made low of 5914 (25 points). And today was a BIG Flag formation.
For Tomorrow as per the Price action, if there is no GAP UP/DOWN opening then it would be BUY ABOVE 5950 or SELL BELOW 5914. 5914 or 5950 will act as the Stoploss based on the Call. My opinion is that Since it is not able to sustain 5950, it might go back and Test 5900 or 5850 (which is also the new MAX Pain). So at 5850 it should be an Opportunity to BUY
Today INFY just spiked to 3050 in the last 30 minutes of Trading. So may be we can expect some action in INFY tomorrow. The OAT also indicates a STRONG BULL for INFY. For INFY it would be BUY ABOVE 3055 and SELL BELOW 3025 - With 1% as the Stoploss. INFY has been Trading in a Tight Range for quite sometime now. In the Option Space, the VOLT has been going UP steadily but since INFY Stock is not moving anywhere, the Option Premium has been coming down. Hopefully it should change and INFY should give some profit for the Debit Spread holders in the coming two days. So Watch INFY on Tomorrow or Thursday for any opportunity in Debit Spread. If it breaks the Range of 3000-3060 Range, it should move at least 5%. to give an idea on the IV, the AVG IV for the last week was around 55% and today it closed at 65%. The normal IV for INFY is only 35%.