Infosys: Post its Q4 results, Infosys witnessed a sharp fall. In spite of that, the outlook remains sideways for Infosys Technologies. The stock finds an immediate resistance at Rs 3,023 and a crucial one at Rs 3,242. The stock finds major support at Rs 2,758 and an immediate one at Rs 2,853. It may move in a narrow range of Rs 2,850 and Rs 3,050.

F&O pointers: The Infosys futures witnessed short rollovers as May futures price is quoting lower than the April futures price.

The rollover was also weak at 20 per cent. Option trading indicates a neutral view on Infosys as 3,000 strike saw unwinding of long open interest positions.

Strategy: Traders can construct short straddle on Infosys using 3,000 strike. The 3,000 call closed at Rs 13 and the put at Rs 95.

The maximum profit in this strategy is the premium collected, while the loss could be unlimited if Infosys moves wildly in one direction.

The maximum profit could happen if the stock settles around Rs 3,000 at the time of expiry.

Traders may note that writing options also involves high margin commitments.

Unitech: The outlook for Unitech remains sideways. The stock is expected to move in a narrow range of Rs 35-46 in the short term.

Only a move above Rs 63 would change the medium-term outlook to positive for the stock. However, in the immediate-term, the Unitech stock could see a spurt in price, towards its immediate resistance level.

F&O pointers: The Unitech futures witnessed a healthy rollover of 42 per cent. Option trading also indicates a positive view as both calls and puts shed open interest in the near month contract. The trading in May options on Unitech indicates that it could move in the Rs 40-45 range.

Strategy: Traders can consider going long on Unitech futures (market lot: 4,000 shares) with a stop loss at Rs 38. If the stock opens on a positive note, shift the stop loss to Rs 41.5 and hold it till expiry.

This strategy is for traders willing to take riskas Unitech is a high-beta stock.

This means it would swing wildly in line with the broader market movement.

Besides, this week being the settlement week for April contracts, the chance of heightened intra-day volatility is very high. Risk-averse traders should stay away from this strategy.

Follow-up: Last week, we had advised traders to consider long on Havells India and short strangle on Suzlon.

Havells India seems to be consolidating at current levels.

Traders can continue holding the position and even consider rolling it over. Suzlon strategy, however, turned negative.

Feedback or queries (on positions) may be sent to >f&o@thehindu.co.in , >blfuturesoptions@gmail.com by Sunday noon. Replies will be published on Monday.

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