ASIANPAINT trade ideas
Asian Paints : Bouncing Back
Marked are the swing levels of Asian Paints, it is likely to bounce back from here at 38.2% Daily Level. Please don't be in haste. Use moving average, and William's R% to execute.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses.
Asianpaint Correction StructureAsian Paint either in abcde or abc correction.
Right now, price is sustaining above support range. If sustains and move Higher High, then MAYBE it will go near 3230.
If the price, go south and inside the range zone then it should have to retest the resistance of range zone and then Lower Low. Target will be near 3080/-
Asian Paints about to break rectangle patternGiven that current uncertainity in global political conditions and crude volatility, paints whose major ingredient being crude might witness some correction.
Asian paints has been between 3400 and 3150 for the past three months.
If it breaks the above rectangle, can see correction up to 2700.
stl: 3200
tgt: 2700
Disclaimer:
I may or may not have any positions. I may come out any time.
trade at your own risk.
Asian Paints near a break down.Asian Paints has been taking support from the 200 ema on the daily charts and is trading between both the moving averages.
The stock closed below the weekly 20 ema and today test the level and closed almost flat.
If the market remain in a bearish trend, there can be a short trade in the stock as it has test the support levels many times.
Entry :- Below 3150
Targets :- 3090, 3048
The stock today tried to move up but slowly came down and closed near the support levels of 3150.
Asian paints has been trading below both the moving averages on the hourly and 15 minutes charts.
Positional and swing trade can be initiated in the stock as it may take 2-3 days in hitting the targets.
Wait for the price action near the levels before entering the trade.
Asian Paints - Fully Bullish
Its already out of the Big Grey Triangle and making ABC Pattern regularly to travel the distance marked by three small triangles. Waiting to break the highs marked by red diamonds and corresponding green horizontal line and trend line; Price Level 3289. Levels have been marked in the Chart, but preferably buy above Green Horizontal Line only.
Be patient, Long target to come in weeks to come.
I am not a SEBI Registered Analyst and it is only for Educational Purposes. Please consult your financial advisor before making any decision.
ASIAN PAINTS BULLISH HARMONICScmp 3260
triggerd bullish harmonics at 3185 levels
and moved till 3265....
SHORT TERM-- Fresh positions above 3265
for tgt 3300--3315---3330
sl 3215 closing basis
POSITIONAL---- can buy at cmp ...
adding levels--3215--3185---3150
tgt 3300---3330---3370---3450
sl 3100 closing basis...
personally I think Diwali is nearby.....so it can gain good momentum...
Regards....
Keshav..
27/08/2023
Disclaimer:
I am not a SEBI Registered analyst...!!
Charts are made only for study purpose and paper trading... !!