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Asianpaints

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.
NSE:ASIANPAINTLong
by ujjwal_18
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!!!
NSE:ASIANPAINTShort
by mmjimm
11
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 .
NSE:ASIANPAINTLong
by chakraveer1104
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 !!!
NSE:ASIANPAINTLong
by chakraveer1104
2
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
NSE:ASIANPAINTLong
by TradewithAditya