Will Asian Paints Shine Again (Movement may be?)
Will Asian Paints Shine Again (Movement may be?)
Formation;
The data is evaluated on Daily time frame, let see the observations, Stock Managed to rally from bottom of 1431.020 to approximately 1864 and unable to enter the channel Line for continuous movement.
Formation of Head and Shoulder in Middle path;
Very Likely the present formation is that two head are created one is the left head and the other is middle head now right head is under formation which highlighted by a round circle, if right head forms then stock should be avoided and no trading should be done in the stock , if right head does not forms then the stock will break out on the upward move , and can go the channel for continuous movement .
Key Resistance Zone in the right shoulder will be 1788 , if the stocks breaks above 1788 then the stock will start the new territory else there will be a downward movement and stock should be avoided .
Trading right now you can do as a Trader till 1788 Levels and can book Profits
Fibonacci ;
At 78.60% the stock retraces which is at 1591 Level and Stock is trading at that level only probability is high that stock can provide move till 1788 which is a decisive level .
EMA ;
9 Period EMI is 1662 if stock crosses 1662 Level then stock can reach 1788 Level Very Soon
Donchian Channel Formation ;
The lower Band of the Channel is at 1545 which the stock is already tested and does not break downwards , middle band is at 1700 level which is also closer of 9 Period EMA and Upper Band Is 1800 Level which will act as Major Resistance .
Traders Level from Present Level till 1800 Level to trade best in the stock Probability is High
News Flow ; As There is some new flow in the stock which also Help him for further momentum
Formation;
The data is evaluated on Daily time frame, let see the observations, Stock Managed to rally from bottom of 1431.020 to approximately 1864 and unable to enter the channel Line for continuous movement.
Formation of Head and Shoulder in Middle path;
Very Likely the present formation is that two head are created one is the left head and the other is middle head now right head is under formation which highlighted by a round circle, if right head forms then stock should be avoided and no trading should be done in the stock , if right head does not forms then the stock will break out on the upward move , and can go the channel for continuous movement .
Key Resistance Zone in the right shoulder will be 1788 , if the stocks breaks above 1788 then the stock will start the new territory else there will be a downward movement and stock should be avoided .
Trading right now you can do as a Trader till 1788 Levels and can book Profits
Fibonacci ;
At 78.60% the stock retraces which is at 1591 Level and Stock is trading at that level only probability is high that stock can provide move till 1788 which is a decisive level .
EMA ;
9 Period EMI is 1662 if stock crosses 1662 Level then stock can reach 1788 Level Very Soon
Donchian Channel Formation ;
The lower Band of the Channel is at 1545 which the stock is already tested and does not break downwards , middle band is at 1700 level which is also closer of 9 Period EMA and Upper Band Is 1800 Level which will act as Major Resistance .
Traders Level from Present Level till 1800 Level to trade best in the stock Probability is High
News Flow ; As There is some new flow in the stock which also Help him for further momentum
Comment:
Earnings are expected today , Pls have a close look
Comment:
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