ASIAN PAINTS (Short Candidate) - May See 1240-1230-1220
Updated
Asian Paint has crucial Fibo 0.5 resistance at 1255. Can be shorted below 1255 for 1240-1230-1220. Also in case the share bounces from the resistance of 1255. Look to short around 1275.
Please consider the following reasons :
1. Trend Line
2. Bearish candle on Daily Chart
3. Double Top Formation
4. Poor market sentiment
Please consider the following reasons :
1. Trend Line
2. Bearish candle on Daily Chart
3. Double Top Formation
4. Poor market sentiment
Note
As expected, Asian Paints Bounced from the Fibo Support.Trade closed: target reached
Target 1 and Target 2 Achived.Made low of 1220.45. Missing targets by 0.45 Points.
Hope it Helps.
Trade closed: target reached
All Target Achieved.
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