ASIANPAINT trade ideas
a slow mover, with a good base in short term trading chartgood base formation...
might go even higher, resistance marked for self trading purpose
disclaimer... not an investing/trading recommendation
Asian Stocks Are Sundry After Fed MeetingAsian stocks on Thursday became mixed in its morning trade following the U.S. Federal Reserve cuts its key interest rate for the second time in two meetings.
Hong Kong’s Hang Seng Index dropped 1.2%. Aside from that Asian stock, traders are strictly focusing on the development of the ongoing political unrest in the city. Nancy Pelosi, a U.S. House of Representatives Speaker, held a news conference with House members overnight. And this includes Joshua Wong, Denise Ho, and other Hong Kong activists who showed support to the Hong Kong Human rights and Democracy Act of 2019.
Pelosi stated, “Democrats and Republicans in the House and the Senate enthusiastically support this legislation.” And she also said that they are one with all who fights for a peaceful and hopeful future.
Next week, the U.S. congressional will vote on the legislation. And this would probably include terms like annual reviews of Hong Kong’s special economic status. Also, it will have the imposition of sanctions on those who undermine their autonomy.
Other Asian Stocks
Then, more on Asian stocks, China’s Shanghai Composite and the Shenzhen Component advanced 0.1% and 0.3%.
In addition to that, Japan’s Nikkei gained 0.5%. The Bank of Japan kept its short-term target at -0.1%. However, it stated, “it is becoming necessary” to give more attention to the potential that the momentum towards achieving its price target will be lost. Later in the day, BOJ governor Haruhiko Kuroda will provide a briefing.
It noted, “The BOJ will re-examine economic and price developments at its next policy meeting when it updates the outlook for economic activity and prices.”
Another part of Asian stocks, South Korea’s Kospi traded 0.3% higher.
Meanwhile, Australia’s ADX rose by 0.5%. In the data, it displayed the country’s employment growing 34.7k in August, surpassing the 10k expectation. On the other hand, the unemployment rate gained 0.1% to 5.3%, similar to expectations.
ACC - Intraday Trade Setup - 9 September 2019Please consider watching the Intraday Levels in ACC for 09 September 2019
ASIAN PAINT Long till 1640-1660 Asian paint can be long till 1650-1660 from there reversal expected.
Short reversal target 1 : 1530, 1480
Asian Paints Ltd {NSE : ASIANPAINT}:: Asian Paints Ltd ::
Recommendation By CKVIEW. Place Order With Given Stop-Loss.
Sell Asian Paints Ltd - 1550
First Target - 1500
Second Target - 1450
Stop Loss - 1575
Thanking You...
structure tradingIf there is a pattern structure like this it is a valid trade
refer chart for details
SELL ASIANPAINT Near 1555-1560 SL 1570 TG 1540-1500Trading at strong daily monthly and weekly resistance
ASIAN PAINTSTHe breakout from the channel or the curve pattern was with good volume.
I see a possibility of the target in green to be matched in the near medium term.
Kept under watchlist for short sell or PUT option buying NSE:ASIANPAINT trending for last 5 days and forms enters double top range, under watch list for potential short sell or PUT option buying.Crude oil price variation may have impact on this script.waiting for 15 Mins reversal to proceed with short selling..
Asian paints....do you have a trade plan ???Asian paints has been respecting the price channel drawn on the daily chart for the last three years. Also if you notice , this stock follows a certain pattern . It falls sharply after touching the upper end of the channel and gravitates towards the lower end of the channel ( marked by oval shape) . after that it consolidates in between the channels and touches the upper end of the channel without touching the lower end of the channel. The price at the moment is in my buy zone. I am keenly watching if the stock holds 1288 levels and gives some bullish reversal pattern to go long. conservative traders can wait for the downtrend line to be broken to go long for targets of 1525 & the second target is the upper channel. I hope this information was helpful to you.
Plan your trades & then trade the plan.
Happy trading !!!
Short Asian PaintsI am seeing bearishness on Asian Paints. If the opening is less than the yesterdays open, I think it is better for shorting.
A red bar and Inverted hammer show the bearishness. As it is just near breaking the Bollinger bands, observe, if breaks, then a good number of points can be earned.
