One can short Asian paints when a 75 minute/60 minute candle closes below 2945. The target of 2798 should look achievable if there is no reversal from weekly resistance (blue line).
Entry price: Short at 2940-2945
SL: 2994/3031 Depending on risk appetite. I would go for SL of 3031 to avoid being taken out by any Wicks.
,IF MARKET OPEN 15690 AND TAKING SUPPORT THEN GO LONG UPTO 1574.
IF MARKET BREAK THIS LEVEL THATS IS 15690 THEN GO SHORT For 50-80 Point Down
IF Market Open on 15748 then Go Short For 100 Point Down If LEVEL BREAKS THEN CONTINUE
IF mARKET GO SIDE WAYS THEN DONT TRADE IF LEVEL BREAKS THEN TAKE TRADE
MAJOR RESISTANCE:- 15750, 15900
MAJOR SUPPORT :- 15680...
If you ask me, it looks bearish as it broke resistance and failed retest, then retested new resistance and now validated it and remains below 7330.
Earnings are also in and the emotion is bearish.
All levels in the chart.
High OI at 7000. Once that is broken, we could see price drop fast.
MFI pointing down.
I would target 6850, and trail below.
I am in this Swing faillure pattern trade right now i have seen 2 steps of confirmation. the 3rd one is change of market structure and the SFP is completely confirmed.
my next trade idea is to short the weekly level that is very strong. in confluence with the Vwap + VAL Of fixed range ( Not marked out). i will enter into a short when i see the proper reaction...
The Price has been facing resisitance from 200 EMA . The structure is already provided for reference along with S&R LEVELS. Expecting 5240
The Indicator Used:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts. Not Activated.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper...
If Tomorrow Market Open Above 15900 and Taking Support at 15880 Then GO Long AFTER 15 Min Candle High Breaks.
iF market open below 15840 then Go short for 50-80 Point Down and If given support breaks then second support is 15700
If Market Open Flat Then Avoid trade if the given level breaks then take trade with Proper Risk Management
All Advice is given for...
Last 2 days had decent volume and price has broken support clearly and decisively.
New Range - (1430 - 1540 - 1620 - 1680)
MFI decreasing rapidly
Rising volatility (ATR), also check IV
IF breaks back above 1685 then this view will need modification.