Asian Paints... Colour fading away...

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...!!!

Trade closed: target reached:

Asian Paints
makes a low of 1099
CMP 1102

Consider booking profits.

Happy trading...!!!

Comment:

That's 2 back to back trades in Asian Paints
Capturing down movement
From 1186 to 1100 combined

Hope you guys enjoyed...