ASIAN PAINTS LTDShort
Asian Paints good short candidate.
Asian paints Spot CMP :- 2650
Elliot Wave Study :-
Wave 1:- First wave of impulse phase, consist of 435 points.
Wave 2 :- Corrective wave of impulse phase, have retraced around
Wave 3 :- Longest and strongest wave of impulse phase, consist of 1170 points , which is 2.618% extension of wave 1..
now if major wave 3 matures around this levels and corrective wave 4 unfolds we can see price retracing to 0.386% of wave 3, price which is around 2250 levels.
RSI divergence :- Price is making higher high. where RSI is making lower high,, bearish divergence.
Good short candidate....
Elliot Wave Study :-
Wave 1:- First wave of impulse phase, consist of 435 points.
Wave 2 :- Corrective wave of impulse phase, have retraced around
Wave 3 :- Longest and strongest wave of impulse phase, consist of 1170 points , which is 2.618% extension of wave 1..
now if major wave 3 matures around this levels and corrective wave 4 unfolds we can see price retracing to 0.386% of wave 3, price which is around 2250 levels.
RSI divergence :- Price is making higher high. where RSI is making lower high,, bearish divergence.
Good short candidate....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.