at 1230 price level a big spike in seen ==> personally indicating a investor started buying it.
has touched bottom zone waiting for a breakout in it ==( line has been drawn )
for upside movement trading strategy :
Calendar Spread: remember it is all option together --> try to adjust premium for good result
AUG : SELL 1120 PE
BUY 1080 PE
SEP: BUY 1400 CE
SELL 1500 CE
this is giving good return with low risk make sure breakeven is around 1110 on the downside
if stock starts moving further downside ... start adding PE in september month and position of call option on lower strike price ...