looks like asian paints is geared up for new all time high.
got good rejection from 3300. so we will keep this as stop loss. final 3550 short term target. once ATH is broken then 4000 also possible.
already break support line in previous trading session which show more negative trend
and rsi also in negative trend so wait for rsi reversal from trend line ressistance
wait for next support line.
This counter has given a breakout from revious high and is going up slowly. Currently consolidating at these levels and seems to be ready for INR 720+ or even much higher than that
After in the tight zone Berger paint tries to breakout from the zone. If candle loses above the Trendline we can expect a good move in this stock. Entry will be around 840-846
Sl below the trendline
Target 3-5%
enter after rally touch 600 see the chart i draw carefully ,Do like ideas , do follow me for more ideas on other shares like Asian paints , L&T , etc.. this is just An idea .
A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout.
Note:
Avoid the stock if a big gap up or gap down is seen
Enter after the breakout happens and not before it
Do not chase the market, i.e., do not get involved in late entries
Only enter with strict stop-loss and target
This is not a recommendation and is for...
The silent stock from paint industry i.e. Berger paints is almost ready to boost like a rocket. It has formed an triangle chart on daily time frame and just check the volume on 14-05-2021. A potential big move can be seen and target is clearly marked on the chart with purple rectangle for further reference.
Asian Giant consolidating bwtn 2650-2680 and we might see breakout upside/downside in coming days.
Support at 50 DMA, if it breaks the next support at 200 DMA.
If increases- then levels at 2775/2875.
Asian paint Triangle breakout and Feb - Ret breakout are same at
Entry - 2570
1st target - 2770 ( 7% )
2nd Target - 2890 ( 4.5% )
Stop Loss - 2526 (2%)
In the daily chart, we can clearly see that Asian Paint is taking support at the 38.2% Fibonacci retracement level. Take long positions guys for the target of 2520.
""This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will"".
Stock Has Recently Breakout From It's Long Term Range And Chances Are, We Can See Follow Through. Stock can Correct Till "Main Support" Or May Reverse From Short Term Support.
Short Term Support - (1950)
Main Support - (1880)
Target - (2200)
.
Berger Paints had power move last day but ended at a consolidation between 554-558
you can expect a retrace back to the line. Also look into my analysis on asian paints and follow both stocks to know the clear trend paint industry is going to.
Beware : Please keep in mind and stay away from False Movements
Also this is not any recommendation, This is only for...
