📈 Asian Paints 📉
Asian Paints is breaking down from Support after 25May2022.
Earlier it use to be Resistance as well so it holds more bias.
So good stock for shorting, Possible targets on downside will be 2277 around levels.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you...
Asian paint looks good for sell if it closes below the neckline of the head and shoulder pattern on a daily basis.
all support and resistance are marked on the chart.
if you agree with my idea please like and share.
thank you !!
Important Investment levels in case of Crude price pressure...
Fundamentally very good stock. Keep accumulating...
Study based on purely technicals....
For clarity have marked on weekly charts.
Lets Revisit this chart every week...
Will update s the movement happens in comment section..
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Short Opportunity -
Asian paint has formed descending triangle, which indicates that there fill be downside movement is expecting. Once the MA is headed down and if the candle closes below the 3236.05 level this will be a good bearish trade. The CCI is near 0 we have to wait till it turns minus. The CPR is narrow and at the downside, which also gives a green...
*Long Opportunity* -
Asian Paint has formed sending triangle pattern on 15M timeframe. The CPR is narrow and upside, it also indicates the uptrend. If this stock crossed the level of Rs. 3278.50 then this will give a strong bullish move. Also, the Day chart and Week chart is showing the uptrend.
NSE:ASIANPAINT The stock is following the channel perfectly and from last 3 weeks sustaining above lower edge of the channel. On weekly chart a hammer candle formation is visible. Buy above 3271 Target 3500. Sl 3150
Note: This is not trading recommendation
The stock is following the channel perfectly and from last 3 weeks sustaining above lower edge of the channel.
On weekly chart there is a hammer candle formation is visible.
Buy above 3271
Target 3500.
Sl 3150
Asian paints has taken support of the trendline.
Bounced from 200 MA
Sitting on demand zone
Above flip level
Making Higher highs Higher lows
Healthy retracement of 78.6% done from last swing high
Sitting above 61.8% fib support.
Buy above - 3160 (closing basis)
Other trades are going well i'll link them below.
Please LIKE, COMMENT and SHARE to motivate and...
NSE:ASIANPAINT
Asian paints at Demand zone, and at trendline support. Expecting Feb series to close above 2800.
Trading Idea:
Buy Asianpaints Feb 2600 ce btw 36 to 40.
SL: 30, targets could be 80/120/160/200 plus.
DISCLAIMER: Trading Ideas are shared for learning and education Purpose Only. Please consult your financial advisors before investing/trading.
Asian Paints looking good Buy if sustains above 3157 for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
