asian paint - buy 1722 target 1731.2-1742-1752 stoploss 1720.25
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all my views on intraday basis - Views given with clear entry target and very small stoploss
Asian Paints will see a retracement tomorrow(roughly 50% on the Fibonacci retracement levels) which is around 1713. Post that, it will bounce back to the resistance level of 1760.
Twice, price rejection seen at the support levels of 1766 with good volumes on daily candle. 1700 is Psychological support. Intraday view: Any long can be initiated above sustenance of 1700 levels to a target of 1731. Short can be initiated below 1700 sustenance with good volumes till 1670 levels. Note that the last fifteen minutes witnessed selling pressure which...
1. Major support broken down on daily chart which was 1720-1715 levels.
2. Next support as per TA is 1630 which is 0.618 FIB retracement of last parabolic move up.
3. If 1630 breaks that possibility of down towards 1500 seems look good.
Trade Setup
- Personally i am going to build up a short position from 1690-1710.
- With stop loss above 1730
- Target 1 : 1630...
Asian paints can be a short as it has broken trend line on weekly charts. Once it breaks the low of latest week short position can be initiated . However it has been a strong stock historically therefore do your own analysis before initiating any trade.
The stock has witnessed sell off during past few weeks. Currently the stock is at an very important support level – 1670. A move down from this level will not be a good sign for the buyers and the stock may fall down further and test 1560 levels. The RSI is just at the support levels, a pull back here has to be monitored and seen for bullish continuation signals....
Asian Paints: After extended north run the stock corrected. The RSI has moved into neutral zone. The prices are now hovering around a minor support at the kumo. There has been a negative TK cross with CS drifting below the prices. The correction seems not over yet, a small pullback can be followed by a correction further pushing the prices to 1670 levels (very...
Asian Paints Limited is a paint company. The Company is engaged in the business of manufacturing, selling and distribution of paints, coatings, products related to home decor, bath fittings and providing of related services. The Company's business segments are Paints and Home Improvement. The Home Improvement segment includes its bath fittings business. Its geographical segments are Domestic and International operations. The Domestic segment includes operations of the Company and its Indian subsidiaries, and joint ventures. It manufactures a range of paints for decorative and industrial use. Its products include special effects, plain finishes and distempers for interior walls; textures finishes, plain finishes and design for exteriors for exterior walls; wall papers; wood finishes; metal finishes; water proofing solutions; adhesives, and painting tools and implements. It operates in over 20 countries and has over 30 manufacturing facilities, servicing consumers in over 65 countries.
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ASIANPAINT
