Asian Paints near a break down.

Mambotrade Updated   
Asian Paints has been taking support from the 200 ema on the daily charts and is trading between both the moving averages.

The stock closed below the weekly 20 ema and today test the level and closed almost flat.

If the market remain in a bearish trend, there can be a short trade in the stock as it has test the support levels many times.

Entry :- Below 3150
Targets :- 3090, 3048

The stock today tried to move up but slowly came down and closed near the support levels of 3150.

Asian paints has been trading below both the moving averages on the hourly and 15 minutes charts.

Positional and swing trade can be initiated in the stock as it may take 2-3 days in hitting the targets.

Wait for the price action near the levels before entering the trade.
The stock is not showing any negative sentiment till now and is behaving similar to the index. Wait for the stock to cross below the entry levels and avoid early entry as the markets are volatile.

No entry triggered in this stock.

The stock gave the entry and is about to reach its first target of 3088.

Book partial profits and keep a trailing stop loss for the remaining quantity.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.