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Asianpaintsview

Asian Paints Ltd - Breakout OpportunityDate : 5-Jun-2024 Rating : Buy - Positional Trade LTP : Rs. 2,961.75 Targets: (1) Rs. 3,180 --> (2) Rs. 3,308 --> (3) Rs. 3,423 --> (4) Rs. 3,590 SL : Rs. 2,777 on daily close basis Technical View: • Since Apr-2021, NSE:ASIANPAINT is moving sideways between 2,560 and 3,590. It was recently going through it's secondary downtrend. • After touching the high of 3,422.95 on 29-Dec-2023, it has retraced 22% to 2,670.10 level. • On 5-Jun-2024, NSE:ASIANPAINT has broke out from its secondary down trend with higher than average volume. • NSE:ASIANPAINT has also closed above 20 DMA, 50 DMA and 21 DEMA on 5-Jun-2024. Very close to cross the 200 DMA. • RSI has formed bullish cross over and trading at 61.23. MACD is in buy zone and trading at 11.65. • Both MACD and RSI has formed positive divergence indicating trend reversal and bullish momentum. • Looking strong to start a new swing from here. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
NSE:ASIANPAINTLong
by vicky252
Asian Paints near a break down.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 3150 Targets :- 3090, 3048 The stock today tried to move up but slowly came down and closed near the support levels of 3150. Asian paints has been trading below both the moving averages on the hourly and 15 minutes charts. Positional and swing trade can be initiated in the stock as it may take 2-3 days in hitting the targets. Wait for the price action near the levels before entering the trade.
NSE:ASIANPAINT
by Mambotrade
Asian paints following the Index bullish move.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. 3 point confirmation. 1. Break out on daily time frame of the consolidation zone. 2. Closed above both the daily moving averages. 3. High volumes than the previous day. Asian paints ltd is a high weightage stock in Nifty index and can follow the bullish trend of the market. Target :- 3185, 3240 Stop loss :- Close below 200 ema(hourly time frame). Wait for the stock to retest of the consolidation zone and price action near the level before entering the trade. Both intraday and swing opporunity can be initiated once the stock closes above the flag and pole pattern.
NSE:ASIANPAINT
by Mambotrade
1
Breakout Possible in Asian PaintHello Friends, 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 education and not a trade recommendation, We don't give any guarantee of Profit or loss So trade on your won risk.
NSE:ASIANPAINTLong
by TheStocktrader_Skn
Asian paints forming flag and pole pattern.Asian paints had traded in a narrow range whole day after a initial up move. On a daily anaylsis, the stock has broken its both crucial moving averages with a nice volume confirmation and can remain in green. It has been taking resistance from its 4 hour 200 ema and has formed a doji in the end. Immediate resistance are the high the points from where it retraced on a 15 minute time frame i.e. 3116, 3125 Once both the levels are crossed it can touch the target of 3160. Support :- 3100,3072 Resistance :- 3108, 3120, 3160 It has formed a flag and pole pattern on hourly time frame. Wait for the levels to break the range and watch for the price action before entering the markets.
NSE:ASIANPAINT
by Mambotrade
Asian Paints Analysis !! Breaking Down.📈 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 need some more study on it. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:ASIANPAINTShort
by ShelendrAgrawal
4
ASIAN PAINTS SWING ACTIVATES ABOVE 3160Asian 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 support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding. Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
NSE:ASIANPAINTLong
by this_is_shoaib