The stock of Infosys (₹1,181.80), although has been in a downtrend, can see a pullback rally from the current level. Immediate resistances are ₹1,250 and ₹1,310. On the other hand, nearby support is at ₹1,127. We expect the pullback rally to lift the stock to ₹1,300 in the short term.

F&O pointers: Infosys May futures closed at ₹1,187.40 against the spot price of ₹1,181.10. The counter witnessed unwinding of long positions in the last couple of days when the stock price moved up, as traders preferred to book profits rather than rolling over due to uncertainty ahead. Option trading indicates that Infosys could move between ₹1,100 and ₹1,400.

Strategy: Consider buying 1180-strike call on Infosys that closed with a premium of ₹40.45 last week. As the market lot is 400 shares, this strategy would cost traders ₹16,180. 

The premium paid will be the maximum loss and that will happen if Infosys fails to cross ₹1,180. The break-even point is ₹1,220.45. However, the profit potentials are huge if the stock rises sharply during the current May series.

We advise traders to keep the initial stop-loss at ₹32. Traders can aim for a target of ₹55 with trailing stop-loss that should protect profits.

If Infosys opens this week either above ₹1,200 or below ₹1,160, traders should avoid this strategy.

Follow-up: Tata Power and Suzlon hit our respective target levels.

Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in trading.

Published on May 2, 2026