ASIANPAINT trade ideas
ASIANPAINTS - Weakness seen below 2980ASIANPAINTS -Should start an upmove if 2980 sustains. Weakness seen below 2980
Asian Paints: Shorting for target of 2798. Take entry at 2940Hello Traders,
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
Target: 2798
SL: 2994/3031 Depending on risk appetite. I would go for SL of 3031 to avoid being taken out by any Wicks.
Disclaimer: I have already attempted the trade on Friday and shorted the current month Future Contract at 3976 (Around 3963 in cash segment). Although I entered it at high risk but it looks very much strong from chart.
Happy Trading.
Asian PaintStock is on consolidation mode and taking breathing which can lead to the great move ahead. Its taking support multiple times at 3002 which is a crucial level for the stock. It's forming a Flag pattern on Weekly charts. Buy on the first Breakout for higher returns. Targets can be 3100 for short term and 3200-3400 for the long term positional view.
Asian paints Cash stock good for Long entry Above 3100.Asianpaint looks good for long entry after breakout
Taking Support At 3080-3100.
Entry Above 3100.
CMP 3083
Falling Wedge Pattern on Asian PaintsAfter the Earnings Shoot-up, Asian paints has retracted a bit to its 0.5Fib levels forming a Double Bottom and a Falling wedge.
Asian Paints has an ideal condition where it never believes in having a proper breakout(*sarcasm*), so in the upcoming week if the bull run starts , a gap can be seen on Asian Paints at the starting of the day which can ideally be verified as a breakout but it will try to retest it 3097 which can be a good entry point as well.
Markets are a bit volatile these days for enter only if you see a proper breakout or a retest.
3127 and 3165 are good target levels. Keep Stop loss in place as well.
#Asianpaint cash : Looks good above 3120.10#Asianpaint cash
22.07.2021
Looks good above 3120.10
stoploss 3090
Target 3148-50/3174/3200
Cmp 3106.75
(3180 possible .. once sustain above 3120)
Asian Paint Bearish EngulfingAsian Paint Bearish Engulfing On Top
Closing Price - 2987.35
SL - 3101 (Day Closing Basis)
Target - 2870/2730
ASIANPAINT Weekly AnalysisASIANPAINTS being the top bullish stocks for long term. 2850 will give important support. The stock is heading towards 3650 in the coming weeks.
Breakout - Now wait for a pullbackAsian Paints is a good fundamental company. The price goes into consolidation after every breakout. This can be due to smart money buying the stock at various stages. Now it has given a big breakout with high volumes. We can expect it to rise further after some more consolidation. Buy 25% here and wait for pullback or consolidation. Buy more on the sign of next breakout.
The price is above 21EMA and RSI is strong and Relative strength (wrt Nifty) is strong. No sign of weakness.
Asian Paint - Elliott Wave Perspect - 5th wave is unfoldingFrom Wave analysis it is known that 5th wave is unfolding - also internal waves of 5th wave are seeming to be forming by end of august/2021 Asian Paint stocks would reach 3650 (=~15%) and even further there on once it reach on confirm.
ASIANPAINT Trade Setup For Tomorrow ( 22nd July)So Asian Paint share give around 6% move on Tuesday, there is a two reasons behind it.
.
1. Asian Paint was in consolidation mode from last so many days so it gave a breakout on Tuesday with the level of 3068.
.
2. In the second half, Asain paint declare their good Quarter Results so it gives the more upward momentum to the share.
.
So for tomorrow, there is a simple Strategy, Asian Paint share will retraced till .5 level mean till 3106 or 3083
.
At the retraced level you should buy for the targets of 3270. .
.
Note: Don't buy in the morning maybe after making one green candle stock will retraced, so buy only once it retraced.
.
What's your view on this comment below in the box.
