Book profit in Infosys: Mehta

Dipesh Mehta, Nirmal Bang Securities is of the view that one can book profit in Infosys at current level.

Mehta told CNBC-TV18, “Infosys has given a good momentum. I think the stock is near to its resistance because if one sees the call, the highest build up of overall Options including call and put it is standing at 3,000 call which is around 3,90,000 open interest. I am not expecting Infosys to fall down much and that is why I do not expect people to buy puts but instead I expect people to book profits at these levels. Since I think it will remain here and it won’t move upside, I am recommending people to sell 3000 call, so the whole of the premium of 3000 call if it stays below 3000 levels can be fetched by the call writer.”