Asian paints forming flag and pole pattern.

Asian paints on the daily time frame is forming a bearish flag type of pattern.

The stock has been consolidating in a parallel channel.

There is a bearish moving averages cross over and stock price is taking rejection form the 20 ema.

3 point confirmation.

1. Bearish flag on daily time frame.
2. Bearish moving average crossover.
3. 50% fibonacci level rejection.

Asian paints is forming a nice pattern. Let the stock give a break down and close outside the consolidation zone.

Target :- 3045, 2981
Stop loss :- 20 ema on daily time frame.

Wait for the price action near the levels and enter only after the stock break down of the consolidation zone.


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