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
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It didn't broke the low of previous day but broke high haha. .
Numbers ahead. New plants coming up. So don't work these stuff on fundamentals
Amit_Ghosh
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@trendizurfriend, What part of " Short if it breaks the low of the previous day " you don't understand :) There is a different between "Short" and " Short if it breaks the low of the previous day." If that is broken, it will fall down to the channel, If not I won't care as it won't be a short trade for sure.
trendizurfriend
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@Amit_Ghosh, yes bro, I said why it broke yday high. Your view is absolutely fine.
Amit_Ghosh
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@trendizurfriend, Fundamentally this company falls under the famous coffee can. It broke along with all global indices.