Asian paints on 15 mins charts is making HEAD & SHOULDER PATTERN and we believe that neckline is broken with good bearish pressure with increase in volume.
1st target 2620 if market opens flats, if any gap down we wait for retest or any bearish continuation pattern with 2600 as second target. We believe stove can give reversal sign from 2600 because of good...
Asian Paints View :
Case 1: On 5th April 2021, Asian Paints opens above 2560 or if it starts trading above 2560, then the stock will be volatile and can move sideways or upward move.
Case 2: On 5th April 2021, Asian Paints opens below 2540 or if it starts trading below 2540 then we can expect a downside move. Our focus will be on this case.
Reasons:
1. As we...
First, 2260 acted as a resistance on 6th Nov'20 and it acted as a support on 26th Feb'21 and moved up from the support.
Second, if I apply the fibo retracement from 1912, you can see that market rejected the 61% fibo level at 2260, so again it touched the support and moved up.
Third, there is a bullish head & shoulder made from 1st Feb'21 to 25th March'21, 2483...
Price formed Head and Shoulder pattern and its time to break the trend line to reach the target.
One can wait for the price to close above the resistance before going long.
Hey traders,
Here's an analysis of ASIANPAINTS, the stock has given a breakout of the trendline.
We can expect some good upmoves, let's see, if it sustains.
Levels mentioned on chart,
Do your own analysis berfore taking the trade.
Guys, Keep supporting and guide me if there's any mistake or there to improve please comment.
Wait for the price to sustain above the trendline and marked zone.
Buy above 2182 level.
Go Short if the price gets rejected from 2180 level.
Use appropriate risk-reward ratio.
Always use a stop loss.
P.S: This is NOT investment advice. This chart is meant for learning purposes only. This is my personal journal. Invest your capital at your own risk.
The stock closed around 0.618 Fibonacci retracement level and expected to give a bounce from these levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:ASIANPAINT
at crucial level if break then will touch below level and if reverse from here one can long from here as well.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Asian Paint was making a series of Lower Lows and Lower Highs. A line has been drawn in the chart connecting the Lower Highs. Also, Asian Paint is now resting at its long-term trendline support. If the support is not broken and the price stops making Lower Highs then we can go long for the targets mentioned in the chart. However, if the trendline support is broken...
The analysis is given on the chart
Comment if you have any query and if you like my analysis, don't forget to press the like button.
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and...
In the daily chart, we can clearly see that Asian Paint is taking support at the 38.2% Fibonacci retracement level. Take long positions guys for the target of 2520.
NSE:ASIANPAINT
stock at support of Harmonic PRZ long only is you know reversal. use your own trade setup for long.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
