Hypothetical Example Based on Asian Paints (ASIANPAINT): Let’s assume that we're analyzing the stock chart for Asian Paints (as of the latest available data). Below are example levels based on a typical technical analysis approach. Keep in mind that this is a general method, and real-time data might differ.
Support Levels: ₹3,200 - ₹3,300 (Strong Support):
If Asian Paints has been bouncing off this level several times over the past few months or weeks, this could be a strong support zone. A break below this level could indicate a bearish trend. ₹3,000 (Psychological Support):
Round numbers like ₹3,000 often act as psychological support levels. Traders might expect buyers to step in if the stock falls towards this price. ₹2,800 (Previous Low):
Previous lows often act as significant support levels. If the price tested ₹2,800 previously and bounced higher, it might act as support again. Resistance Levels: ₹3,600 - ₹3,700 (Previous High):
ASIANPAINT view for Intraday 12th Dec = Resistance 535 Watching above 536 for upside movement ... Support area 515 Below 530 ignoring upside momentum for intraday Support 515 Watching below 514 or downside movement ... Resistance area 535 Above 520 ignoring downside move for intraday Charts for Educational purposes only. Please follow strict stop loss and risk reward if you follow the level. Thanks,
Asian Paints Limited (NSE: ASIANPAINT) on the daily (1D) timeframe,
Support Levels: 3,241.10 INR: This is the recent low and a crucial support level1. 3,200.00 INR: Another significant support level, close to the 200-day EMA2. Resistance Levels: 3,297.75 INR: The recent high and an immediate resistance level1. 3,350.00 INR: A higher resistance level to watch if the stock breaks above the recent
ASIANPAINT A great choice! Let's dive into the Support and Resistance levels for Asian Paints Limited (ASIANPAINT) on the National Stock Exchange (NSE).
For Asian Paints Limited (ASIANPAINT), the key support and resistance levels are as follows:
Support Levels: ₹2700, ₹2670.1012 Resistance Levels: ₹3158.80, ₹360013 These levels can help you plan your trading strategy.