In the chart, we can see a formation of rounding bottom along with double bottom chart pattern. RSI Divergence supports the bullish view. Long options can be bought. Asian paints can be seen touching the levels of 2800+ by the last week of March.
I have been studying stocks for the past couple of months (6 months) to be precise, and have been learning different types of chart techniques.
Have been looking at the Asian Paints stock for study purposes and this is something that caught my eye.
If we consider the uptrend that the stock has been doing and, look at the short term downtrend, can this be...
""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...
Berger Paint did a simple traingle breakout and its a positional cum intraday trade!
Positional Buy is above 532.5 with SL 513.5 and targets upto 540 and 555 for positional.
Intraday buy above 528.5 with strict sl 523.5 with targets 532.5 and 538.5
The meteoric rise that we have witnessed over the past two months in this counter by 80% has been nothing short of a spectacle. However, now it looks like the paint is beginning to loose its sheen and the formation of bearish harami with a trendline breakdown is hinting at a potential reversal to the downside. The momentum indicator RSI is clearly signaling serial...