ASIANPAINT – Strong Bounce from Demand Zone________________________________________________________________________________📈 ASIANPAINT – Strong Bounce from Demand Zone | Option Chain + Price Action Breakdown
🕒 Chart Type: 15-Minute
📆 Date: July 3, 2025
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🔍 What’s Catching Our Eye:
ASIANPAINT saw a sharp intraday rebound from its marked demand zone at ₹2405–₹2397.50, with price closing near ₹2,430.90. The reversal occurred on higher volume and in the presence of long build-ups across multiple Call strikes. This suggests institutional interest and a potential shift in short-term sentiment.
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📌 What We’re Watching For:
The key observation is that ASIANPAINT respected its demand zone and bounced with strength. If the price sustains above ₹2,440, it could trigger continuation toward the top range of ₹2,464.40. On the downside, any failure to hold the demand zone may bring back pressure toward ₹2,400. Option chain data supports the bullish bias, with fresh long positions across ATM and OTM calls.
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📊 Volume Footprint:
Today’s volume was 1.55M, higher than the previous 1.36M, signaling strong participation during the bounce. A continuation move with volume > 1.5M may validate breakout setups.
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📈 Option Chain Highlights:
The 2,500 CE, 2,460 CE, and 2,440 CE all witnessed strong long build-ups, confirming bullish positioning. Even the deep OTM 2,600 CE showed healthy open interest increase. Meanwhile, 2,400 PE showed short build-up, suggesting put writers are confident that the ₹2,400 level will hold. Notably, 2,400 CE also saw short covering, adding further weight to the bullish narrative.
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🔁 Trend Bias:
🟢 Bullish above ₹2,440, especially if volume confirms a clean move
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🧠 Trade Logic / Reasoning:
The bounce from demand was technical and backed by derivatives activity. The presence of long build-ups across multiple Calls and the short covering at 2400 CE suggests strength. Since price closed above key EMA zones and respected the lower boundary, it builds a solid case for an upward move, unless volume suddenly drops or a fresh supply emerges.
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📍 Important Levels to Mark:
🔺 Top Range Resistance: ₹2,464.40 – Watch for bullish breakout or reversal candlestick
🔻 Bottom Range Support: ₹2,326.10 – Deeper support; unlikely to come into play unless 2400 breaks
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🎯 Trade Plan (Educational Purpose Only):
✅ Best Buy (Cash/Futures):
Buy above ₹2,440 with bullish price action and volume confirmation. Reversal from the demand zone is valid as long as price holds above ₹2,405.
✅ Best Sell (Cash/Futures):
Sell only below ₹2,405 if the price breaks the demand zone with high volume and bearish structure. Downside may open toward ₹2,380–₹2,360.
💼 Best CE to Long:
2,440 CE or 2,460 CE – Both strikes show strong Long Build-Up; ideal for directional continuation above ₹2,440.
📉 Best PE to Long:
2,400 PE – Consider only if price breaks and sustains below ₹2,405 with heavy volume and weak candle close. Risk-reward turns favourable for downside hedging.
🟢 Demand Zone: ₹2405.10 – ₹2397.50 | SL: ₹2395.50
🔴 Supply Zone: Not clearly visible yet (watch ₹2464+ for fresh seller emergence)
⚠️ Invalidation Below:
Bullish bias invalid if price closes below ₹2,395 with strong volume and momentum.
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⚠️ Disclaimer:
This post is for educational purposes only.
STWP is not a SEBI-registered advisor.
This is not a buy/sell recommendation.
Please consult your financial advisor before trading.
STWP is not responsible for any trading outcomes.
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