understanding trades through support and resistance, asian paint can give good downside move tomorrow.
avoid trade if its opens big gap up or gap down.
#Asianpaint #asianpaintlong
Asian paint may give a good 1:2 R:R trade.
Entry=2955 Sl=2918(HCLB) Target=3048
Disclaimer:- This is not financial advice, This is my personal trade.
1. looking good to buy above, 2950, targets - 2962, 2977. SL-2941
2. looking weak below 2934, targets - 2921, 2906. sl- 2944
3. void if opens big gap up or gap down
- $ASIANPAINT shown a good breakout with volumes at 2880 levels
- Many paint stocks have gained momentum
- Breakout of a rounding bottom pattern
- Entry levels can be made afte a retest to 2880-2900 with a stoploss of 2730
- May show some bullish behaviour initially but may lose some momentum afterwards
* Only for educational purposes
Classic symmetrical triangle now at the verge of breakout ..... breakthrough gap up = buy with a small risk or a power candle on 15min would do it .... u can hold this trade as it is on a good support zone .... Happy trading. :)
Also, a breakdown = no trade at all on the sell-side. wait for the right time, let ti show u the right pattern :)
Don't take a risk of...
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...
