We can clearly identify a five wave structure . No matter which degree wave it is , but after every five waves up there should be a three wave correction. On a lower degree the nature of fall suggests that the correction will be most likely a zig-zag correction. One should go short on current level or on any rise keeping SL of 3500 & look downside for the...
Financials : For the quarter ended 30-06-2021, the company has reported a Consolidated Total Income of Rs 5,674.97 Crore, down 15.64 % from last quarter Total Income of Rs 6,726.84 Crore
and up 91.09 % from last year same quarter Total Income of Rs 2,969.75 Crore. Company has reported net profit after tax of Rs 576.82 Crore in latest quarter.
Asian Paints Daily Time Frame Analysis
Strong Base at 3150-3180 zone
Minor Resistance at 3400 zones
After profit booking session of 1 week expected a bounce from this base
I have already initiated my position at 3200 with a stop loss of daily closing below 3170
Targets are mention on charts
1st target at 3500 as after this we can possibly see a double top so...
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Asian paints is back to retest the previous resistance.
A very important trendline lies in the same region.
This confluence of support will be confirmed if any bullish candle is formed here.
The risk to reward will also be favourable.
- Any price drop to support zone and trendline will be good buying opportunity
- If market sentiment is -ve, then wait for correction till 50EMA
- VOL has been good
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Stop Loss:- 3246
Duration:- 6 to 8 Weeks
The stock has already break the resistance line and test that resistance line again and used as a support line, showing a bullish candle, which is an indication of upside move. So we can buy this at market order. Use proper stop loss and maintain discipline throughout...