Sanjan91

ASIAN PAINTS PRICE ACTION ANALYSIS.

Long
NSE:ASIANPAINT   ASIAN PAINTS LTD
Asian Paints has crossed 3163 levels with high volumes after breaking the demand zone 2. For a better risk-reward ratio, we can wait for a pullback until 3163, which is expected to act as good support.

Place your stop loss level below the demand zone 2.

The XABCD bearish crab pattern sets a 1.618 fib extension level as a profit booking level for longs. Book your profits here and wait for the price action for a new position.

All the levels and information is mentioned on the chart as well.

Happy trading :)

This is just for educational purposes. Trade responsibly with proper financial advice.

Trade closed: target reached: Target reached. Now book your profits and wait for the price action.
Comment: We can see a rejection from 3220 here. Above 3220 it becomes trending again or after a pullback.