ASIANTILES trade ideas
ASIAN TILES -BOUNCE FROM WEEKLY DEMAND ZONE-educational purposeBOUNCE FROM WEEKLY DEMAND ZONE
Bullish view with reversal (DOUBLE BOTTOM)
cmp 60
Enter near 55 on correction
TARGET 1 : 95 (74%)(30 months)
TARGET 2 -190 (245%) (48-60 months)
STOPLOSS : weekly closing below 37.50 (-32%)
RR RATIO : 1:7.7
ONLY LONGTERM VIEW
Asian Granito Potential Breakout Near Key Resistance
The stock is consolidating near the 89 level with strong support from the 100 EMA and the upward trendline. A breakout above 90 could push the stock towards the 96-97 range, offering a potential 7-8% upside. The formation of higher lows suggests bullish momentum building, and an increase in volume on breakout confirmation will be crucial for sustained upward movement.
ASIANTILES base created?Stock is trading at 0.91 times its book value
4th largest listed Ceramic Tiles company in India. It manufactures and markets a wide range of products, viz. Floor Tiles, Wall Tiles, Parking Tiles, Glazed Vitrified Tiles, Polished Vitrified Tiles, Double Charge Tiles, Countertops, Quartz Surfaces, Marble Surfaces, Sanitaryware, Bathware, CP Fittings, Faucets and Construction Chemicals.
Asian Granito cmp 89.50 by Weekly Chart views*Asian Granito cmp 89.50 by Weekly Chart views*
- Support Zone at 84 to 87.50 Price Band
- Weekly basis Support at 76 > 65 > 53 with Resistance at 99 > 111 > 124
- *Back to Back Rounding Bottom and/or Cup and Handle pattern, as one my interpret and read the chart setup*
Asian Tiles May blast from hereAsian Tiles can double from here with in few years. Sl below the trend line.
Chart is self explanatory. Please follow the price action & take the trade as per your appetite.
The information provided here is only for educational purpose. The information provided here is not intended to be any kind of financial advice, investment advice, and trading advice. Investment in stock market is very risky and trading stocks, options and other securities involve risk. The risk of loss in stock market can be substantial. Moreover, I am not a SEBI registered analyst, so before taking any decision or before investing in any Share consult your financial advisor and also do your analysis and research.
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Bullish After 1-2 MonthsWave 1 (Impulse)
The initial upward movement started around 2009 and peaked around 2011. This represents Wave 1 of the Elliott Wave pattern.
Wave 2 (Correction)
The subsequent correction occurred between 2011 and 2013, where the price retraced but did not fall below the starting point of Wave 1.
Wave 3 (Impulse)
The next significant upward move from 2013 to around 2017 can be seen as Wave 3. This wave typically is the longest and most powerful in the Elliott Wave sequence.
Wave 4 (Correction)
A corrective wave followed from 2017 to around 2020, marking Wave 4. This correction did not enter the price territory of Wave 1, adhering to Elliott Wave rules.
Wave 5 (Impulse)
The price then made another move upwards from 2020 to the peak in 2021-2022, completing Wave 5. This wave is usually shorter than Wave 3.
A-B-C Correction
Post Wave 5, a corrective phase, marked as A-B-C, took place.
Wave A started around early 2022 and went downward.
Wave B was an upward correction in mid-2022.
Wave C is the downtrend completing the correction phase, seen around late 2022 to early 2023.
Subsequent Movements
The movements post the A-B-C correction phase seem to be consolidating and potentially setting up for the next cycle of Elliott Waves.
Asian Tiles Targets for 2024Not Interested to Share How it will Happen.
But Technical Chart especially my Technical Chart Indicates NSE:ASIANTILES is in Good Buying Position for 2024.
Here are my Targets From its Current Price Level when i am shring this technical analysis the price of the stock is @ INR 63.95
Most likely Price will Continue Fall from its current Price levels which i have mentioned and wil go down for INR 52-55 Price Levels To take a Support for next Price levels INR 73-76 which will Act as Resistance for the Target Price Levels for INR 96-99 by this 2024 end.
And Don't Forget the price levels which i have mentioned not necessarily going to be happen exactly this shared information is only for educational and informational purposes only kindly do consider your own analysis. DYOR/DYOA.
ASIANTILES for longggg??Near strong resistance/supply zone. Expecting it to break. Reason as below
1. Good quarterly result.
2. Two new manufacturing facilities opening soon, which may give good upcoming results.
3. Technical: Inverted Head and Shoulders can be seen, a bullish pattern (if breakout is done)
Rest time will tell.
If you find any negative aspects do share it in comment sections, so that others are also aware.
Above theory is just my opinion and can go wrong, study more and make your own decision.
LONG $NSE:ASIANTILES The stock has broken out on the weekly time frame and is consolidating before another leg of upmove. The actual breakout happened on the weekly close above 78 so if one gets any dip to the levels of 78 can look to buy there and for those who want to take an aggressive entry can take at CMP with a stop loss below 68 on weekly closing basis for targets of 100-110-125 on a positional basis.
NOTE: NOT SEBI REGISTERED. THIS IS NOT AN INVESTMENT STRATEGY AND ONE SHOULD DO RESEARCH OR CONSULT WITH THEIR FINANCIAL ADVISOR BEFORE TAKING ANY INVESTMENT DECISIONS.THIS IS ONLY FOR EDUCATIONAL AND LEARNING PURPOSES.
Asian tiles Asian tiles
Breakout of H& S pattern on weekly & daily charts with huge volume since last 4-5 days. All momentum indicators are bullish such as RSI, RS, ADX.
buy -above 78.10 or near 70-72 retest level of resolution point of breakout.
Sl -63
Tgt -88-96-115 ( 1-3 months hold)
This is for learning and not recommended for buy.