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3 confirmations to short
*lack of demand
Price has hit the cloud and might fall back.
short and sweet
ASIAN PAINTS showing strenght, having breakout of EMA200 with high volume.
SHORT BELOW 1241
WILL IT FILL THE GAP
asian paints 60
ASIANPAINT Intraday scalp idea
Close greater can 1196 can shoot it to 1245
This can bridge the gap
Buy above 1205 with the stop loss of 1190. Targets are 1220, 1235 and 1255. Sell below 1190 with the stop loss of 1205. Targets are 1175, 1160 and 1140.
Asian Paints has formed a crucial Morning Star Pattern, which is bullish reversal Pattern and has jumped from the lower trendline Resistance of 1125. Can be long above 1200. SL 1182
Please consider following reasons -
1. Reverse from Trend Line Support
2. Positive Divergence on Stocastic
3. Morning Star Pattern
4. Reducing Price of Crude
5. Fibo Resistance ...
AsianPaint is at support zone. Volume has reduced quite significantly during recent fall. One can expect it to go up during Result time. Maintain tight SL as volatility will be there due to result announcement.
Asianpaint -Can test 1143, SL -1226
Stock broke down today, was followed by below expected results..could fall to first support of around 1092.