Asian Paints: Chart set up and trading strategy

Asian Paints

- After 3 Black crows candle stick pattern, recovery in the stock has been tepid so far

- The tepid recovery is also due to rise in crude oil prices during the same time.

- Given the setup, one may consider to sell Asian Paints 3500 Call Option around 50 (October series)

Keep a close watch if Asian Paints closes above 21 day EMA ( currently around 3386) and or crude prices cools off drastically

Take care & safe trading

Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be