Charts of India's second largest IT firm are signalling some sort of distribution pattern in the range of 3000-3060 levels.It can be seen from negative divergence of RSI and Price movement.
A decisive breakdown below 2975 will give us confirmation for targets of 2750-2600 levels.
One needs to watch the price movement closely in run upto the second quarter results that are to be declared on 12th October 2013.
If price remains in this range then one can buy out of money put options of 2600,2700 strikes
A decisive breakdown below 2975 will give us confirmation for targets of 2750-2600 levels.
One needs to watch the price movement closely in run upto the second quarter results that are to be declared on 12th October 2013.
If price remains in this range then one can buy out of money put options of 2600,2700 strikes
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