Hare Krishna!
Sharing for educational purpose to learners.
As per my idea of selling Asian Paint in the below linked ideas.
Took the position on 12 Sep.
Example of Professional Trading involving patience and precision.
Losses will come but profits will outshine them in the long run.
Good Luck
This is a Retracement Move Expectation.
I am looking at a possibility of a further 80-90 points drop to find genuine buyers again near 1470
I will be looking to find good sell setups to enter.
Good Luck
HARIBOL !
Asian Paints , a night mare for shorters in august (including me) as it just kept going up.
Made a new high on clear divergence in RSI
Price will not be able tp sustain at these levels for long. wait for a break of Tenken (blue line).
expecting a correction to 20 dma sometime and lower to test Kijun Sen (maroon line).
its a positional call. targets 1580 1550 1530
As asian paint continue rising in such market also making all time high now most of positional trader don't know which position to take as per weekly chart view a closing below 1620 on week closing basis will take this share toward 1500 and 1450 so be cautious before taking long position
One more think which i notice is that rsi is moving toward over bought zone...
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
