Twice, price rejection seen at the support levels of 1766 with good volumes on daily candle. 1700 is Psychological support. Intraday view: Any long can be initiated above sustenance of 1700 levels to a target of 1731. Short can be initiated below 1700 sustenance with good volumes till 1670 levels. Note that the last fifteen minutes witnessed selling pressure which pushed price from 1720 to 1706 levels with heavy volumes. Opening range might witness the formation of a good intraday bottom which can act as a good support zone
. Broader trend of the index must be checked before initiating either buy or sell trade since Asian Paints is a large cap stock of the index.