MeanRevert🔴 Stock made box or double top kind of formation in 75M around monthly pivot R2 3385.
🔴 Stock made price volume breakdown candle with volume surge of 135% of SMA25
🔴 Once stock trades and sustains below 3285 it can move towards the demand zone.
🟢 Multiple volume profiles created from AnchorSupport levels indicate stock has strong support near 2971/3025
🟢 Stock enjoys 38% Fibonacci retracement support at 2961 levels of the whole rally from 2260-3394.
🔴 Rising crude oil prices may be a trigger for some profit booking in the overstretched stock.
ASIANPAINT trade ideas
ASIANPAINT: BEGINNING OF A DECLINE?EDUCATIONAL:
Weekly chart is indicating topping out pattern BUT NOT YET CONFIRMED! Only when we have a nice red candle following soon, it will be confirmed. The daily chart has two red candles. It has dropped to less than 2% from lifetime high so surely it is too early to call for a correction but this scrip will be interesting to watch if further candles precipitate more price correction with increased volumes. The trigger for a big move can come suddenly, swiftly from anywhere. Worth watching...
Long opportunity in ASIAN PAINTSThis scrip had been in an uptrend for a long time so we can add more quantities to this scrip whenever there is a dip or buying opportunity. This scrip had formed a channel pattern in 1Hr timeframe, though it is a smaller timeframe we hsve a buying opportunity in this scrip. It is a fundamentally strong scrip and gave a massive returns in previous years. So it is a risk less trade for swing traders who can hold it for months
ASIANPAINT pre-market intraday analysis and setup🎇Hello Traders👋
Today i have made a post on ASIANPAINT 1HR
I hope you find this post helpful and informative👍
The targets and stoploss would be given in the charts or they would be according to pivot points
Thank You
—DISCLAIMER—
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted here will be considered as informative and helpful post
I shall not be responsible for your profits and losses
Will ASIANPAINT breakout of the range?After making a high of 3179 on 20.07.21, ASIANPAINT has been consolidating in a range. It recently seems to trying to push upwards towards the resistance and has formed a nice bar which indicates a possible coming breakout. A long can be initiated keeping in mind the following levels :
LONG ABOVE : 3115
STOP LOSS : 3048
TARGET 1 : 3182
TARGET 2 : 3249
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Do wait for a 15 min candle to close above the "LONG ABOVE" level with good volumes for a better entry.
Do manage your risk and trade your plan.
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ASIAN PAINTS PRICE ACTION ANALYSIS. Asian Paints has crossed 3163 levels with high volumes after breaking the demand zone 2. For a better risk-reward ratio, we can wait for a pullback until 3163, which is expected to act as good support.
Place your stop loss level below the demand zone 2.
The XABCD bearish crab pattern sets a 1.618 fib extension level as a profit booking level for longs. Book your profits here and wait for the price action for a new position.
All the levels and information is mentioned on the chart as well.
Happy trading :)
This is just for educational purposes. Trade responsibly with proper financial advice.
📈 Pre-open MTF #PriceAction Analysis by #KRMG (01 Sep)👉 Stock 1- #ASIANPAINTS
👉 Sector - NIFTY50
👨🏻🏫 Analysis Timeframes - Hourly and 15 min (Intra)
🎯 Commentary - As per the Hourly timeframe it is in good Uptrend and it has broken its Important Resistance and ALL TIME HIGH Level 3180 Convincingly
After it has given Good opening it continued the Uptrend throughout the day and maintained the original trend.
For Buyers to maintain dominance, it needs to close and sustain above the #CRITICALZONE (Pay attention to #PriceAction concepts taught)
🎯 Coming to sectoral pattern - #Nifty50 has given very strong Upmove yesterday and broken its ALL TIME HIGH Level
#KRMGPriceAction
#LearnWithKRMG