Note: This is for educational purpose only. DO NOT trade in F&O based on this analysis.
There seems to be a bullish breakout with high volume in ascending triangle. RSI above 65 indicates bullish momentum.
LET ONE CANDLE OF 15 MINUTE CLOSE ABOVE 2070
AND BUY ABOVE 2076 CAN LEAD TO 2222.7 POSITIONAL WITH SL 2065
OR SHORT IF SEEN A BEARISH CANDLE IN 30 MIN TF AROUND 2070 REGION BREAKING THE LOW OF
PREVIOUS 30 MIN CANDLE
FOR 2021 TARGET INTRADAY
NSE:ASIANPAINT
W has a clean BO followed by PRC + PCC giving a clear bullish bias.
D has a clean UT
75m has a BO of a SW movement and a retest. Swing long candidate
Asianpaint has come out of consolidation and has given a breakout from triangle pattern.
It has crossed its ATH(All Time High) with good volumes.
Its an evergreen stock and sector. A large cap and must be there in everyone's portfolio.
Buy them at this price and wait for good returns over the years.
Note: This is for educational purpose only.
There is a triangle bullish breakout in Asian Paint with high volume. RSI above 60 shows bullish momentum as well.
Asian Paints looks good for a breakout.
One can go long if it closes above the upper trendline.
Remember,trade is valid only if candle closes above trendline.
Keep SL and Target as per your RR.
Always trade after determining your risks and don't forget position sizing.
NSE:ASIANPAINT
I hope you can now see how the ASIANPAINT represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour.
Asian Moving Towards R2 On Daily Time Frame, with support of Monthly Trend line.
Target Based on Daily Pivot: 1608
Please review Chart and any suggestions will be appreciated.
Thanks!
