Astral – Momentum Trade Setup
A strong momentum counter from the building materials / pipes segment is showing a classic bullish continuation setup. The stock is trading close to its 52-week high zone, supported by strong price structure and sustained buying momentum over the past few weeks.
Technically, the stock remains firmly in an uptrend across short-term, medium-term and long-term timeframes, with prices trading comfortably above all major moving averages. The 20-day moving average near Rs. 1648 and the 50-day moving average near Rs. 1530 are far below the current market price, confirming a powerful trend alignment.
Momentum indicators also support the bullish bias. RSI around 67 reflects strong buying interest without entering extreme overbought territory. Directional indicators show buyers dominating the trend, while the Parabolic SAR positioned near Rs. 1595 confirms that the broader trend remains upward.
The stock has also pushed above its upper Bollinger Band, suggesting strong momentum expansion. However, this also indicates that the counter is entering a heated zone where brief consolidation cannot be ruled out before the next leg higher.
From a price-structure perspective, the key trigger level lies near Rs. 1755–1765. A sustained move above this band can lead to a quick momentum rally toward Rs. 1784, with the possibility of extending toward Rs. 1820 if buying pressure continues.
Key Price Levels
| Level Type | Price |
|---|---|
| Immediate Resistance | Rs. 1755 |
| Breakout Zone | Rs. 1763 – 1765 |
| Upside Target Zone | Rs. 1784 – 1822 |
| Immediate Support | Rs. 1730 |
| Strong Support | Rs. 1721 |
Best Options Strategy for Thursday
Given the strong bullish structure and continued momentum, the CALL side offers a better risk-reward setup than PUT options.
PUT trades are not preferred unless the stock breaks decisively below Rs. 1721, which currently appears less likely based on the prevailing trend.
Preferred Thursday Options Jackpot Trade
| Particular | Level |
|---|---|
| Option Type | Call Option |
| Preferred Strike | 1700 CE |
| Buy Zone | Rs. 32 – 35 |
| Target 1 | Rs. 40 |
| Target 2 | Rs. 46 |
| Target 3 | Rs. 52 |
| Stop Loss | Rs. 25 |
Why 1700 CE?
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Highest trading volume among near strikes
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Strong open-interest addition indicating fresh bullish positioning
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Balanced premium and liquidity for intraday and positional traders
Aggressive Trade (High Risk / High Reward)
| Particular | Level |
|---|---|
| Option Type | Call Option |
| Aggressive Strike | 1720 CE |
| Buy Zone | Rs. 26 – 28 |
| Target 1 | Rs. 33 |
| Target 2 | Rs. 38 |
| Target 3 | Rs. 44 |
| Stop Loss | Rs. 20 |
This strike offers sharper percentage returns if the stock breaks above Rs. 1765 quickly.
Chanakya Verdict
The stock remains a momentum bullish candidate supported by strong technical alignment and option chain buildup. Traders can consider CALL options for Thursday’s Options Jackpot, with the 1700 CE strike offering the best balance of liquidity and upside potential.
However, traders should maintain strict stop-loss levels as the counter is already trading in a heated momentum zone where short-term profit-booking can emerge.
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