ASIAN PAINTS LTDShort
Asian Paints... Colour fading away...
Updated
Asian Paints
CMP 1148
Last time we took a short in Asian Paints at 1186 and booked profits at 1147...
Now the stock is back at 1147 but has broken blue trend line and today if closing is below 1154 then it could be dicy for Asian Paints as it would breach the trend line on weekly closing basis...
It could head lower towards 1131 below which might suggest further weakness for eventual target of 1096
Pattern gets invalidated if closing is above 1160 today...
Take care & safe trading...!!!
CMP 1148
Last time we took a short in Asian Paints at 1186 and booked profits at 1147...
Now the stock is back at 1147 but has broken blue trend line and today if closing is below 1154 then it could be dicy for Asian Paints as it would breach the trend line on weekly closing basis...
It could head lower towards 1131 below which might suggest further weakness for eventual target of 1096
Pattern gets invalidated if closing is above 1160 today...
Take care & safe trading...!!!
Trade closed: target reached
Asian Paintsmakes a low of 1099
CMP 1102
Consider booking profits.
Happy trading...!!!
Note
That's 2 back to back trades in Asian PaintsCapturing down movement
From 1186 to 1100 combined
Hope you guys enjoyed...
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