Asian Paints looks good for a breakout.
One can go long if it closes above the upper trendline.
Remember,trade is valid only if candle closes above trendline.
Keep SL and Target as per your RR.
Always trade after determining your risks and don't forget position sizing.
Brief Summary of Asian paints.
1. See this stock has completed its one leg of fall near 1440 . Second leg is going on . If the recent low near 1482 is structure changing point that is not confirmed yet , then it will cross the tough resistance at 1720. Other wise , The fall started near 1840 will continue . This upward move will be considered pullback if stock...
Prices took support from long term support level and week ended with long wicked bullish candle. (long bias)
While analyzing weekly long wicked bullish candle, on daily time-frame prices broke the down trend-line with strong bullish momentum candle which signify possible trend change.
After breaking down...
- Asian Paint is forming H&S pattern. This pattern is usually forms when the stock prices reaches its all time high and at the top.
- This pattern yet not completely formed but the love towards the patterns help me to project the things.
- This is too early to get in any position.
- All you can do is just wait for bounce from the neck line and let it form the...
The stock has been confronting with a heavy selling pressure near 1820 zone since September 2019. I can clearly observe 3 to 4 million share prints around this level. Even the March 2020 fall began with a 6 million print in the same zone. Currently the stock has been testing the 1820 zone and again there is a 3.7 million share print.
This observation has been...
Buy initiated at 1657. CMP: 1675, SL: 1634.55, Target atleast 100 points around 1757++.
Expecting explosive bullish move as per pattern formed.
Had tested horizontal resistance of 1656.95 twice before upward resistance breakout in Hourly charts.
A shooting start appeared close to the 50 percent fib retracement, the tail of the candle faced resistance at the MA. The volumes of up candles seem decent RSI is at 50 levels. A failure swing may form at the 50 levels, bulls should be comfortable above 1657 with good volumes follow up.
ASIANPAINT is moving to 1496 in a trendline , it is near it's support if you fin it breaks that support andi think there is high chance for that and so it will move to 1496 and i think it should go lower before any upward movement so it is a good position for short selling
technical indecators are also showing bearish signal
EVEN THOUGH I WON'T SUGGEST TO DO...