Asian Paints to trade sideways.
Updated
Strategies:-
Intraday traders
Buy/Entry: Trigger Price: 1672, Buy Price: 1688, Target Price: 1724, Stop Loss: 1770, (*Trailing stop loss with step of Rs 4)
Positional traders
Buy/Entry: Buy Price: 1668-1672, Targets: 1724-1761-1791. * Do not put stop losses here. If stock breaches 1665 and continue to move downwards do not panic. Next buy level is 1622 and 1596. These are very strong supports. The Stock is expected to move back to 1826 within two weeks time.
Note: Intraday Traders who prefer to short sell, rather than buy trades, may follow below strategy only if stock opens between 1696-1702.
Sell/Exit: Sell Price: 1698-1702, Stop Loss: 1725, (*Trailing stop loss with step of Rs 4). Target Price 1668-1674
Intraday traders
Buy/Entry: Trigger Price: 1672, Buy Price: 1688, Target Price: 1724, Stop Loss: 1770, (*Trailing stop loss with step of Rs 4)
Positional traders
Buy/Entry: Buy Price: 1668-1672, Targets: 1724-1761-1791. * Do not put stop losses here. If stock breaches 1665 and continue to move downwards do not panic. Next buy level is 1622 and 1596. These are very strong supports. The Stock is expected to move back to 1826 within two weeks time.
Note: Intraday Traders who prefer to short sell, rather than buy trades, may follow below strategy only if stock opens between 1696-1702.
Sell/Exit: Sell Price: 1698-1702, Stop Loss: 1725, (*Trailing stop loss with step of Rs 4). Target Price 1668-1674
Note
All three targets have been achieved comfortably. Breaching 1791, it touched 1792.
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