TradingSutra

ASIAN PAINTS: Correction Ahead

Short
NSE:ASIANPAINT   ASIAN PAINTS LTD
We can clearly identify a five wave structure . No matter which degree wave it is , but after every five waves up there should be a three wave correction. On a lower degree the nature of fall suggests that the correction will be most likely a zig-zag correction. One should go short on current level or on any rise keeping SL of 3500 & look downside for the minimum target of 3000-2950.

Manish Bhardwaj
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