The stock is trailing in a range from last 8 months , we can make some gaains in this trail, more likely for 13% or lucky then you can get 6.5% more of it in every 30-35 days...
Asianpaints again taken a support from previous demand zone and expected an upmove towards 3280 odd levels until 2900 is intact on the downside closing basis.
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InvestPro India
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
Added on to the existing position for about 1.25% of the net capital, when a descending pattern was formed. This summed up the total holding to about 2.5% of the net capital.
The details of the initial entry is specified in a previous post which is attached underneath. Do check that out too.
The way sellers got absorbed and even a big bullish push, this is how a new trend starts, but not in FEBRUARY...... anyways we can trade the short term long opportunity with a small SL... GL
"Calculating the risk reward before entering a trade is always the right thing"
A very nice and bullilsh pattern has formed in Asian paints at a support level. This is the classic head and shoulder pattern and the price is just breaking out from the neckline. The target is the depth of the pattern but it is possible that we see a lot more rally. In what has been a weak market it is good to see a bullish breakout.
THE BEST FLULYING STOCK FOR A MONGTH
Here the priseaction simplyed
ASIAN PAINTS stock showing heavy bullish trend
according to the following reasons
1 its clearly mentioned the Trend line
2 strong support zone
and due to some foundamental analysis
its gonna be a best stock for this mongth as a
skyrocket
it moves are like chandrayan 3 to moon
i mean a roket...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
For investors seeking decent returns without significant risk, Asian Paints seems a viable option. Consider accumulating shares in each Dips , aiming for a target range of 3430-3490.
Asian paints at support Zone. Stock with overall good fundamental. Also do not mind holding for core portfolio if the trade rebounds from the support zone. will exit with a small stop loss if the support breaks with good breakdown candle and volume. Will also intraday hedge if the support breaks down.
Disclaimer: Not an investment advice, just my personal trade...
CMP of Asian Paints is at 2 very strong support levels:
Yellow Line - 3 Years support level
Green Line - 8 Years support level
Also, RSI (Monthly timeframe) of Asian Paints in last 9 years has always bounced back from ~50 levels. Current RSI can be assumed to be at its minimum level. So very good BUY opportunity for 10% gains in short term from current levels.
Reasons To Enter : NSE:ASIANPAINT
1. Stock about to breakout after consolidating for a almost a month .
2. Crude Oil is going down , so considering the inverse correlation between crude oil and paint stocks , we can see demand going up as oil gets cheaper .
3. Stock closing above both 50-9 EMA
4.Breakout , retest already done . Now price might go up...
