ASIANPAINT : Whats next
ASIANPAINT :
Stock is on an uptrend from the past couple of weeks and trading above most of the moving averages on Daily, Weekly, and Monthly time frames.
However, looking at the chart pattern - we see from 2021 Feb - it's forming a triangle pattern - and a breakout on either side should give a good opportunity to trade.
Considering the market trend overall -- Add the stock to the watchlist and also check out the Open interest and movement of 3300 CE -- and catch the wave for the short term.
Based on which side the stock tries to break the triangle - play on long term.
This is my view only.
Stock is on an uptrend from the past couple of weeks and trading above most of the moving averages on Daily, Weekly, and Monthly time frames.
However, looking at the chart pattern - we see from 2021 Feb - it's forming a triangle pattern - and a breakout on either side should give a good opportunity to trade.
Considering the market trend overall -- Add the stock to the watchlist and also check out the Open interest and movement of 3300 CE -- and catch the wave for the short term.
Based on which side the stock tries to break the triangle - play on long term.
This is my view only.
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