ASIANPAINT - GO LONG @ CMP WITH A SL OF 1483 AND A TARGET OF 2040. TARGET SHOULD BE ACHIEVED BY JULY-END. COMPULSORY EXIT ON TARGET COMPLETION. CAN GO SHORT.
entry and exit points are given in chart
Weekly Closing below 1680 can take stock to 1500 levels
* Price Bounce Back From Demand Zone . * Any 75 Min Candle Did't Give Closing below Today's Low . * Strong RSI Divergence . Buy When 75 Min Candle Close Above Today's High That Is 1576.5
We can see buy setup over chat for swing or short term position, but wait for confirmation.
- Break of Down Trendline (forming a falling wedge in the end) indicating that Selling pressure has subsided. - RSI showing Double Bullish Divergence is another indication. - The last gap down opening was filled by a close above it. - A Retrace to the marked Buy Zone is a buy.
Hello friends, I hope you like my analysis if you have any question you can comment or support by liking it. If you are liking to buy Asian paint then you can buy below the lower value for delivery for towards 1600-1700 Thanks
Asian paints has it's earnings call on 11th May. It has been losing ground rapidly for the last few days. I see it touching 1540 at least post earnings announcement.
Asian paints Swing trade possible - downtrend with loss on momentum - Target 1720 Sell may futures at highest price point for a gain of 40 to 50 points.
Asian Paints - 1783 by 4th May. 1809 by 5th May. if it crosses 1783 it will head for 1809.
Expecting 850-950 Zone to be visited, which gives will us opportunity for LONG TERM INVESTMENT.
Based on trend pattern it seems on daily chart Asian paints showing good support near bottom of channel formation. Hope it will show positive side movement from Monday and can see upward movement in 2- 3 days for 3-5 % minimum as iam expecting.
REFER PREVIOUS POST - LINKED HERE PROJECTED ALT BAT PATTERN
Asian paints daily has Bat Formation. Bat prz zone is at 1860 levels which is near with gap resistance at 1840, hence this provides us with supply zone of 1860-1840. Stop loss can be place at 1900 levels with a target of 1700 levels. Entry of trade can be planned on lower time frame in the zone of 1840-1860. PLEASE DO NOT FOLLOW BLINDLY, DO YOUR OWN RESEARCH.