Asian Paints Betting on Consolidation Channel Mean Reversion

There is no reason of Asian Paint or any Paint's rise on stocks where the crude oil went multi-bagger. It directly impacts their business being the core raw material. So my bet is on the consolidation.

But, Short if it breaks the low of the previous day with a stop loss at the previous day's high. So, Short at 1308!

1300 is handle. Psychological Pivot point - resistance and support. So, it may make trouble breaking that point. Update the TSL in intraday if you see any profit post entering immediately.

Target is 1280. If that is touched, I will update the TSL to 1300.

Best trade will be to sell 1400 CE at 8.95 (But wait for the low of the previous day to break). The strike price has filthy vega .

Order cancelled:

It didn't broke the low of previous day but broke high haha. .