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Short Asian Paint Position till Expiry target 1200
Strong buy candidate.
Everything mentioned in graph
Asian Paints after rallying from 860 levels has given a major trendline break .... A Break & Close below 1098 levels would give confirmation of Double Top with a target of about 1015 ... Interestingly 20 EMA on Monthly time frame which has acted as strong support for the stock (since 2008) is at 1010 making it a good entry point for investors.
stock bouncing back from crucial support zone 1120/1125 levels
move above 1172/1175 might take the stock towards
upper end of channel that is placed around 1210/1220 levels
Bearish Engulfing pattern formed with significant volume. Closed near day's low. MACD in imminent bearish crossover. Aggressive trade, keep trailing stops and use indicated zones to book profits. Dow theory suggests that this could be the completion of Double top pattern with significant resistance at 1170 levels
Watch out for the breakout here !
It can inch upto 1200 levels. however 1150 looks promising post broke out.
short below 1035 and it is double top formation which underscores the possibilty of strong resistance in upside
1)Market leader-proven track record.
2)Affordable housing- a big push.
3)Clean balance sheet
A) Constant Debt reduction YoY.
B) Awesome increase in PAT-YoY.
C)Company growing >20%.
Target - 1100(6 Months)