Long Asian Paints (ASIPAI) April future in the range of 1805-1815.
Target: 1895;
Stop Loss: 1755
Consumption stocks have shown significant resilience and witnessed buying at lower levels despite negative market sentiments. Asian Paints is one such stock which has moved near its Feb levels while Nifty is still hovering around 9000 levels. The open interest in the stock has declined sharply at inception of the series. Despite gradual build up of positions, the total OI is relatively low ion the stock. We believe long positions should be formed in the stock and it is likely to move towards Feb highs in the coming sessions. The highest Put base for the stock is placed at ATM 1800 strike suggesting expectations of limited downsides.
The material on this site is provided for information purpose only. This associated sites do not accept liability for your use of the materials provided.
Consumption stocks have shown significant resilience and witnessed buying at lower levels despite negative market sentiments. Asian Paints is one such stock which has moved near its Feb levels while Nifty is still hovering around 9000 levels. The open interest in the stock has declined sharply at inception of the series. Despite gradual build up of positions, the total OI is relatively low ion the stock. We believe long positions should be formed in the stock and it is likely to move towards Feb highs in the coming sessions. The highest Put base for the stock is placed at ATM 1800 strike suggesting expectations of limited downsides.
The material on this site is provided for information purpose only. This associated sites do not accept liability for your use of the materials provided.
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