stock trading near weekly support and after a descent fall given some scope of rise in the last some hours of trading today !
with a stop loss @ 1090 095 range and keeping targets of 1147 , & 1170 , better stay long in the stock with a fair chance of
REVERSAL !
stock near its weekly support , given a good slide , no more downside seems to be there , part of nifty , can act as a support stock to lift nifty up , and take it to level of 10700
Asian paint has just started the steps towards its upper bound.
Asian paints also made a shooting start in its last session giving a bullish indication from here.
CMP - 1157
First target/resistance 1185
Once 1190 is broken it will shoot to 1260 and above
SL - 1142
Hi friends,
In previous chart we expected a good selling and later to take long but the pattern is being changed, as per current scenario we see a there is a channel formation after breaking it will take to 1160-1170, Now the trend line is the crucial resistance as it resist many times, we see this time it might break the line and head towards 1250+. Once it...
The stock has broken below the trend channel, indicating that a trading range could be a high probability outcome. If so, a rally to the upper end of the likely range at 1227 cannot be ruled out. Watch this stock. Plan your trade & size your position in accordance with risk tolerance.
NSE:ASIANPAINT has come out of the zone before it dipped halfway.
Also, it has closed above 50 DMA.
If it stays above the line, we can see strong build up.
Technically, candlesticks in 1 hour chart shows double top pattern and evening star.
Also negative divergence strongly indicates that price may go down tomorrow.
Sell CMP - Rs. 967
Target - Rs. 952
Stoploss - Rs. 977.85
Minimum Risk Target could be 1:1.
You could cover your position and wait for triple top again in 2-3 days.
Asian Paint's relative strength in comparison to Nifty is poor. While Nifty has crossed above its Dec high, Asian paint has only retraced it. The stock is poor and is not worth investing in, especially when Nifty is going to fall from Tuesday onwards.
Even when Nifty will complete its downward Timewave, this stock is not worth investing in as it will...
Counter has broken 200 DMA convincingly, along with major support zones. These will now start acting as major resistance. With the overall bearish sentiment persisting in the market the counter could further weaken to 800 levels. The short sell should be initiated only on a pull back to ensure decent risk/reward ratio can be achieved.
Asian Paints has been falling nose down, it doesn't seem to be looking strong enough to see upside movement, also it has broken long term trend line and has been approaching long term support around 831-830 in near term, traders may enter short asian paints at cmp.
It is been observed on the daily chart that the price action picks up from the support levels at 1025, now it shall move to previous support level which is now act as resistance levels.
Target: 1095
Stoploss: 1020
Risk Reward: 1:2
