A gap can be seen in the price of Asian Paints(highlighted in green), a previous attempt to fill the gap on 18th April did not succeed, stock has been able to hold Fibonacci level of 23.6%. Two successive dojis can be seen recently and delivery percentage for last three days are 55%,67%,57%(positive sign). The stock might move up once again to fill the gap.
With the Strong Bull Candle today, it make me believe that Asian Paints is on its way up in the next few days.
1st tgt = 1435
if it stays above 1440 then
2nd tgt = 1470
I'll take a position tomorrow and decide on the SL
This analysis done by using the longbuylongsell indicator.
The price of ASIANpaints in 2h 4h and D time frame touched its key support level and making higher highs now.
This trend will continue for some period. I am seeing this as good option to enter for long side trade with 100points target from here.
The golden star, PSAR green bars and background color green...