Get started

Asianpaints

Asian paints forming flag and pole pattern.Asian paints had traded in a narrow range whole day after a initial up move. On a daily anaylsis, the stock has broken its both crucial moving averages with a nice volume confirmation and can remain in green. It has been taking resistance from its 4 hour 200 ema and has formed a doji in the end. Immediate resistance are the high the points from where it retraced on a 15 minute time frame i.e. 3116, 3125 Once both the levels are crossed it can touch the target of 3160. Support :- 3100,3072 Resistance :- 3108, 3120, 3160 It has formed a flag and pole pattern on hourly time frame. Wait for the levels to break the range and watch for the price action before entering the markets.
NSE:ASIANPAINT
by Mambotrade
ASIAN PAINTs - Inside Candles formation, Range getting narrower The 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. 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