Asian paint is at its strong supports you can go long in it or wait for the touch zone support. Intraday on 9 aug 2021 you can go long with the sl of 25 if you see 5 min green candle at 9:20. or if you got bullish candle in morning you can put your sl near low or the day.
As i have drawn , it is clear tracing supports and resistances to lines , so we can exapact clear break to upcoming new high.. do follow me for more ideas on other shares like reliance , L&T , et c.. this is just An idea .
consolidating inside a triangle.respecting the up trendline and trying to move up.
I will be waiting for a breakout and retest to enter that can give good risk to reward. 15min inside candle breakout also can be an entry if the volume is also supportive. watch daily pivots to book profits if it goes above after retest
In the chart, we can see a formation of rounding bottom along with double bottom chart pattern. RSI Divergence supports the bullish view. Long options can be bought. Asian paints can be seen touching the levels of 2800+ by the last week of March.
I have been studying stocks for the past couple of months (6 months) to be precise, and have been learning different types of chart techniques.
Have been looking at the Asian Paints stock for study purposes and this is something that caught my eye.
If we consider the uptrend that the stock has been doing and, look at the short term downtrend, can this be...
""This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will"".
Stock Has Recently Breakout From It's Long Term Range And Chances Are, We Can See Follow Through. Stock can Correct Till "Main Support" Or May Reverse From Short Term Support.
Short Term Support - (1950)
Main Support - (1880)
Target - (2200)
Asian paint after giving us a sell signal near 1675 with a fall of nearly 257 points is now looking for a short covering and looks good to buy above 1580 for minimum 4-5% move as 1620 will act as a strong resistance zone.
Berger Paint did a simple traingle breakout and its a positional cum intraday trade!
Positional Buy is above 532.5 with SL 513.5 and targets upto 540 and 555 for positional.
Intraday buy above 528.5 with strict sl 523.5 with targets 532.5 and 538.5