Keep an eye on Asian paint it is on its very verge of breakout. There is a possibility of one more retracement in nearby time. Sellers fail to bring this stock down multiple times in 1 hr time frame.
Reason to buy:-
1) 2000 is psychology level breaking above which will be a good move.
2) Reduction in seller's strength to pull this stock down (Mentioned in the...
Swing Trading = Short NSE:HDFCLIFE
Monthly Time Frame = Short = Down Trend Price Action
Weekly Time Frame = Short = Down Trend Price Action
Daily Time Frame = Short = Down Trend Price Action
Already shown in the Main Idea
75mins Time Frame = Short = Down Trend Price Action
- Trend is Still Bullish as RSI not yet oversold
- RSI hit overbought few days back and currently stock undergoing a pullback
- Price around 65 Day EMA & close to VWAP. Let it get above VWAP & 65 EMA to initiate a Long
- Accumulation can be observed on the 5 min charts and the last few candles in the 30 min chart as shown above
- Bears will be in control only if...