Asian Paints Breakout Trade

Aug 22

Hi mates, Sharing an idea for Asian paints on daily chart i hope you will like my work and idea so let's start quickly as we can see that price was consolidating in a parallel channel from last many month and recently price broke that channel and came out so we can consider it's a parallel channel breakout and it seems that price keenly want to go till marked resistance target as today it broke a recent swing high resistance and close above which it made after channel resistance breakout for my this trading idea below channel resistance close seems a good support, That's it don't want to stretch the description much as everything already clearly mentioned on provided chart. Thanks for reading and please don't forget to like if you like.

This Publication is for only learning purpose, please don't consider this as a trading advice.

Best Regards- Amit

Sep 4

Comment

Hello mates updating this idea as i am having a technical view so after sharing this chart price came down and tested it's resistance as support so we can say it was a breakout retest and today it is breaking it's swing high which price made after published breakout so if price will close above this swing resistance we can see marked target in coming sessions and this swing top resistance can act as support this time sharing chart snapshot for better understaing thanks for reading and supporting my idea mates.

Sep 9

Comment

Hello mates breakout trade idea going good for Asian paints as price reached 3312 from 3150 and strongly moving towards target, So as you can see on provided chart that overall target taken was 8.5% and currently mine trading position is gaining more then 5% so one thing i am doing that i am taking half gains from my overall trading position as target is not very far from here and for remaining quantity i am moving my trade stop loss to cost as current situation of market seems not very lucrative to me for carrying this overall trade