ASIAN PAINTS (Short Candidate) - May See 1240-1230-1220

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

Comment:

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.