Consider short strangle on Asian Paints

Despite a strong rally on Friday, the outlook on Asian Paints remains neutral. The stock finds an immediate resistance at Rs 1,867 and support at Rs 1,705. A close above the resistance will change the outlook to positive for the stock and may trigger a fresh rally in it. In that event, the stock has the potential to reach Rs 2,276. A close below Rs 1,705 will alter the short-term outlook to negative and could weaken it to Rs 1,500.
F&O pointers: Despite a sharp gain on Friday, Asian Paints …

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