understanding trades through support and resistance, asian paint can give good downside move tomorrow.
avoid trade if its opens big gap up or gap down.
#Asianpaint #asianpaintlong
Asian paint may give a good 1:2 R:R trade.
Entry=2955 Sl=2918(HCLB) Target=3048
Disclaimer:- This is not financial advice, This is my personal trade.
1. looking good to buy above, 2950, targets - 2962, 2977. SL-2941
2. looking weak below 2934, targets - 2921, 2906. sl- 2944
3. void if opens big gap up or gap down
Stock has formed a symmetrical triangle on higher time frames.
Looks set to come down again to 2500/2490 levels in a session or two.
If BD fails and stock breaks triangle on upper side then can reach 2620 and 2650 levels
P.S. Sell/Buy only when 15 min candle breaks the triangle and closes beyond it.
The stock is forming a pennant pattern which may break soon on either side, let's see it moves towards 2875 or 2270.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
ASIAN PAINTS LTD
Cup and handle chart pattern formation happening, So BULLISH view can be expected.
STOP LOSS 2443 for LONG positions,
Strong BEARISH can be expected if BELOW 2265 level breaks.
Wait for the price to sustain above the trendline and marked zone.
Buy above 2182 level.
Go Short if the price gets rejected from 2180 level.
Use appropriate risk-reward ratio.
Always use a stop loss.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.
Asian Paints:
Buy above 2420 SL 2385
Target: 2436, 2452, 2468
Posting for Educational purpose only
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Asian Paint was making a series of Lower Lows and Lower Highs. A line has been drawn in the chart connecting the Lower Highs. Also, Asian Paint is now resting at its long-term trendline support. If the support is not broken and the price stops making Lower Highs then we can go long for the targets mentioned in the chart. However, if the trendline support is broken...
