rishiguy

Will ASIANPAINT breakout of the range?

Long
NSE:ASIANPAINT   ASIAN PAINTS LTD
After making a high of 3179 on 20.07.21, ASIANPAINT has been consolidating in a range. It recently seems to trying to push upwards towards the resistance and has formed a nice bar which indicates a possible coming breakout. A long can be initiated keeping in mind the following levels :

LONG ABOVE : 3115
STOP LOSS : 3048
TARGET 1 : 3182
TARGET 2 : 3249
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Do wait for a 15 min candle to close above the "LONG ABOVE" level with good volumes for a better entry.

Do manage your risk and trade your plan.
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Trade closed: target reached: Both targets reached in 2 trading sessions. :)