Asian paints long setupAsian paints made double bottom on the strong support level.
Target and sl marked on the chart.
Asianpaints
Asian paints Trendline BreakoutTrend line breakout with increase volume on Daily timeframe
target -3200
Buy near - 2870
Stop loss - 2810
Asian Paints BO Retested Asian Paints Breakout Retested. It is running from two days. So tomorrow might be sideways. Rally begins from ext week.
ASIAN PAINTS STRATEGYAt 2500 Start your strategy for long. please hedge positions for better risk management, then at 2100 and at 1900 level try to buy more.
lets see
Asian Paints breakout moveAsian Paints is currently showing strong signs of a breakout on its stock chart, indicating that the company's stock is on the verge of a significant price increase. This is evident across all time frames, from the short-term daily chart to the long-term monthly chart, suggesting that the breakout is likely to be sustained over time.
On the daily chart, Asian Paints' stock has formed a bullish ascending triangle pattern, with the stock price approaching the upper resistance level of the pattern. This indicates that buyers are gaining momentum and are likely to push the stock price above the resistance level in the near future, triggering a breakout. Furthermore, the stock's relative strength index (RSI) is showing positive momentum, with the RSI moving above the 50 level, further supporting the bullish bias.
On the weekly chart, Asian Paints' stock has been trading in a narrow range for several months, forming a consolidation pattern. However, the recent price action has resulted in the stock breaking out of the consolidation pattern, indicating a potential bullish trend reversal. Moreover, the stock's moving averages, such as the 50-week moving average and the 200-week moving average, are starting to converge, suggesting that the stock price could continue to move higher.
On the monthly chart, Asian Paints' stock has been in a long-term uptrend, with the stock price making higher highs and higher lows over the past few years. The recent consolidation and breakout on the shorter-term charts could be seen as a healthy pullback within the context of the long-term uptrend, providing an opportunity for investors to enter at a relatively lower price point.
Overall, the breakout idea for Asian Paints' stock is working really well across all time frames, indicating that this is a significant event for the company. As one of the bigger stocks in the Nifty 50 index, a sustained price increase in Asian Paints' stock could have a positive impact on the overall performance of the index.
ASIANPAINT IN BEARS BRUSH ???!!!Chart does insist me the above titled opinion
Reasons
In Monthly timeframe, Asian paints looks like, is in formation of a DOUBLE TOP!!! ( Making HIGH(Jan 2022)and LOWER HIGH(Sep 2022) respectively)
(shown as image attached in the chart)
1. Asian paints has been travelling in Ascending channel pattern(red and green) taking support at respective levels from 2019.
2. Now currently its is in the down swing in a descending channel(white trendlines).
3. January 2023 Monthly candle - going to be the decider for further move.(if it closes below 2900- we can confirm the bearishness further)
4. In daily time frame, it has formed a Head & Shoulders pattern and given BREAKDOWN!!!
5. By H&S pattern, Target gets to about 200 points(to 2850 level).
6. Green line down near 2900 is acting as support from 2020.
7. DOUBLE TOP (Monthly timeframe) will mostly likely be confirmed if the Green line gets broken.
8. Let's wait and watch whether the monthly candle breaks the green line or not!!!
Asian paints is one of the stocks which has not reached the 52 week high (during recent rally of market)!!!
Take SL as day candle closing out of the white channel.(3090) & Keep Trailing the SL!!
1st Target - 2900,
will update once it reaches this target.
If the Double top works as it does, Asian paints can see 2250 level soon.
Even if we don't trade now, It is better if we don't make any long term investment on Asian paints as of now.(as it is bearish)
Let's wait and watch how it moves!!! What this is going to teach us!!!
Note : Just sharing my view.....Not a Tip nor Advice!!!
Breakout in Asian Paints. Never Miss!!The possible Double bottom pattern breakout.
Asian Paints could be bought at the retest with the
target of the previous point where the supply was
the heaviest. Traders willing to take swing trade
can enter the script. Follow proper R:R, and
quantity can be based on your risk appetite.
Bullish Reversal Setuppossible trend reversal possible as the chart suggests-logic and levels well mentioned in the chart itself
Triangle Pattern A triangle chart pattern involves price moving into a tighter and tighter range as time goes by and provides a visual display of a battle between bulls and bears.
Script = Asian Paints
Time Frame = 15 min
ASIAN PAINTS LTD: INTRADAY SETUP FOR WEEKMy Intraday Set up for Asian Paint for next few days.
As discussed previously , the stock has just seen the reversal trend in upward direction , we must thus wait for opportunities to buy.
On 15 min chart , the stock is currently in range as detailed in chart. Once the breakout is seen , we have the opportunity to enter the trade. The entry trigger will be the price action @ 2852.20 , leading us to various targets as detailed in chart. Each targets is preceded by some resistance . Hence , conservative traders may exit and re-enter the trade once the resistance is broken out.
The technical indicators at current level are as under :
CMP : 2825.55
MA50 : 2822.08
MA200 : 2801.62 ( Cross Over)
RSI : 57.894 crossing over
ADX(14) : 17.682 ( No Directional Strength - In range )
ATR (14) : 5.18 ( Less Volatile )
One must enter the trade only after the Breakout , and conservative traders shall wait for price action. Good Luck !!!
Suggestions are welcome .
Asianpaint chart beakoutAsianpaint chart beakout on chart,
mentioned levels on chart
plant accourding levels
those levels are educational purpose
ASIAN PAINT LTD : BOTH SHORT AND LONG TERM TRADEAsian Paints Ltd does not need any introduction. With Market Cap of 2,69,000 Cr and a legacy of pre -independence foundation in 1945, the stock is all time favorite for for both retail and Institutional buyers.
Currently the stock has just reversed from its downtrend and stands @ 2833.60.
The chart has already tested the support @ 2820.10 which is our stop loss for this trade.
One can enter this trade anytime now as it has crossed below the neck of reversed HEAD AND SHOULDER pattern .
Out Targets would be 2913.50 , 3000 , 3254 and 3450 .
It is both for short term trading as well as Long term hold as the stock is in uptrend in Higher Time frame ( Monthly )
RSI is crossing level of 50 in uptrend
High Volume seen in recent trading days.
We will definitely see Golden Cross over within next 3 weeks.
A good opportunity to add this stock in your portfolio.
Please keep boosting my study and analysis , it is helping me a lot.
Good Lock !!!
Cup and Handle PatternA cup and handle price pattern on a security's price chart is a technical indicator that resembles a cup with a handle, where the cup is in the shape of a "u" and the handle has a slight downward drift.
The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume.
Script = Asian Paints
Time Frame = 1 Day
Asian paint - Ready for a massive breakoutAsian paint is now ready for big breakout after a long consolidation. It can easily reach 2900 and 3030 after that.
ASIANPAINT ✅ On weekly and daily Price looking Berish and on 2845-2917 is multiple time tested level and now This level act as Resistance.
✅ But right now price will look weak for long side and also come to test 2845-2917 level if price hit his level short on Reversal.
✅ Look for a good strong signal for short on smaller TF.
✅ Price will show strong movement on 2578-2665. And act as Support level .
Good level for accumulation Asian Paints corrected to Fib Retracement level of 23.6% - from highs of 3600
Disclaimer: View for Educational purpose only, not to be taken as trading or investment advice.
ASIANPAINT - Trade/Investment - Bounce from Crucial SupportThe analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Trade setup is explained in image itself. Second target is calculated based on range calculation method in technical analysis.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis
Asian Paints LtdAsian Paints Ltd is an Indian multinational paint company.
The company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home décor, bath fittings and providing of related services.
AsianPaints - Weekly Inside bar Asian paints on weekly timeframe is on support trendline and has also formed a inside bar (harami candle) in downtrend on weekly time frame, Keep this in watchlist for small stop loss reversal trade.
Asian paints - At crucial levelsThe chart shows that the stock is trading at multiple supports. if reverses from here in coming trading sessions may go to the levels of 2890/3010. Sustaining below 2690 for a couple of days will show the weakness. keep an eye.
Only for learning and sharing purposes, not a bit of trading advice.
All the best.
Pilot Position for ASIAN PAINTS for upto 30% return.It is more likely to correct till 2589.
Pilot position at current price and SL near below support of 5% can see a good return upto 30% in mid-term.
Asian paint may go further down till 2705 SL 2877As per Harmonic PRZ pattern, Asian paint may go further down till 2705 SL 2877 within next week
Asian Paints - Buy on Dips OR Wealth Erosion?Asian Paints has been a consistent compounder in Indian decorative paints Industry. With increasing Crude Oil volatility expectation from February due to Russia's decision to not sell Crude Oil to countries respecting EU's $60 price cap, the share has corrected from 3600 to 2800 levels ~ 22%
The recent earnings report further accentuated the concerns of investors, with slowing sales growth, but rising Operating Margins nonetheless. As per the management, it was a result of prolonged monsoon in October, which caused a tepid festive season sale.
The rising competition in Paints industry is not oblivious to anyone either, Grasim, JSW have major capex commitments. Will this lead to margins erosion, which when combined with slow Revenue growth, is a recipe for Wealth Erosion? or will Asian Paints continue to enjoy super normal profits from its yet undisturbed monopoly?
On the Technical side, the share has come back to 140 day EMA on weekly, which has been an undefeated support zone since 2009. However, the same trend was also observed for Berger Paints with 100 day EMA, but we recently saw how it not only broke it clearly, but has been trading below it for around 1 year now.
It will be very interesting to see if Asian Paints can bounce from here, but in my opinion, there aren't many/any positive triggers for the market side, apart from a shining decade long outperformance record of wealth creation. At a PE of 70 and 10 Year Median PE of 58, it seems like the worst is yet to come. However, my guess is as good as yours. I believe it might be a good time to take a step back, and reconsider our blind faith in perceived bluechip companies with unsustainable PE levels and single digit earnings growth, like Pidilite as well.
I do not intend to attract any criticism, and would like to clarify that it is my personal opinion, and I can be completely wrong at it. As a fellow swimmer in the tides of the markets, I have learnt that one can never be too cautious, only too overconfident.
