Asian Paints has been taking support from the 200 ema on the daily charts and is trading between both the moving averages.
The stock closed below the weekly 20 ema and today test the level and closed almost flat.
If the market remain in a bearish trend, there can be a short trade in the stock as it has test the support levels many times.
Entry :- Below...
Bullish Harami with Volumes in Daily TF
Made at breakout retest zone
Inv Head and Shoulder can be seen.
Breakout on 12th June was also with volumes.
Entry can be at CMP with Target 3400
SL below previous day Red candle at 3240
Asian 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.
Asian paints has created double bottom on hourly chart. Also their is RSI Bullish divergence seen. It has also given breakout above the trend line. We can go long once it break above the resistance at 2924. Target will be 3036. Keep the Stoploss at previous swing low or low of the breakout candle.
Asian paints after consolidating in a parallel channel has given a break out of the zone and closed above the box.
The stock on the daily time frame has closed above both the moving averages.
For the intraday trade, the stock has formed a flag and pole pattern on smaller time frame. On hourly time frame, the stock has given a close above 20 and 200 emas.
Asian paints on the daily time frame is forming a bearish flag type of pattern.
The stock has been consolidating in a parallel channel.
There is a bearish moving averages cross over and stock price is taking rejection form the 20 ema.
3 point confirmation.
1. Bearish flag on daily time frame.
2. Bearish moving average crossover.
3. 50% fibonacci level...
Asian Paints look weak below 3390 for the marked lower targets on the chart until 3600 is intact on the upside.
To motivate us, Please like the idea If you agree with the analysis.
InvestPro India Team
As the prices of crude oil dropping the scrip is moving higher high. Now the scrip is trading near ATH and getting it self ready for another breakout to reach ATH. Consolidating near resistance and forming a Flag type pattern. Once the resistance is broken then we may see a strong up-move in this scrip,
#Note -The purpose is for analysis for ...
Asian Paints Ltd. (ASPN) near breakout level
once this trend line break with high volume asian paints move more upside.
BUY above 3518
upside 18% movement possible.
upcoming months sep oct nov festival session going to start so it will boost the sales in asian paints and profit also. Thank you.
KINDLY SWITCH TO 5MIN TIME-FRAME
Used my Analysis on 15min chart. Traded on 5min Time-frame.
After Breaking of Resistance saw volume in the candle and traded it.
Profit Booked 1:2.5
Keep following Liking I will give trading setup on weekend.
This is very Trendy Stock From Last few weeks This Has been rally a lot than it should be now its time To go in consolidating phase But we can not say when this happen This time i saw a good opportunity To short it its been weak now to short i There has been small rest where it could came so fast if on mon morning will be negative I shorted it on 3491 keeping sl...
Asian paints has been consolidating in a parallel channel.
The stock has formed a bearish flag and pole pattern on daily time frame.
The volumes are getting low.
Support:- 2830, 2743
Resistance :- 2920, 2970
The stock if breaks down can give a nice targets.
The stock will be good for a bearish trade and watch for the price action near the levels before...