Asian Paint Long for Day and swing tradeThe stock has reached its 61.80% Feb level of original start of the trend , now its facing some pull back but surely on Major up trend
You can view the buying area in combination with Volume confirming the institutional are again accumulating the stock , it means that Now big players are accumulating for next higher move
One can Look for buying for holding stock for swing trade
For day trader it is not advised to go through the high whipsaws they can buy above 1105 and look for target of 1124 for day trading with stop of 1100
and for swing trader they can accumulate Near 1068/1065 with stop of 1020 for target of 1241
This information is only for educational not to be considered as suggestion , all your decision must be made according to your own technical analysis
Regards
Trade ideas
Asian Paint Bullish Bat in the making! Two scenarios
Firstly, I feel there will be test at 950 level, setting up for a bullish bat pattern, this seems appropriate given the retracement both from point A to C and also B to C leg close to .618 level. But this will be more conservative wait and watch before entering a trade.
Secondly, in the ABCD pattern there is a perfect retracement at .618 level, with the extension expected to test 1070 level on the upside.
Asian Paints Pullback Bullish entry setupTo be honest I really like the simple trend continuation pullback entries.
They exactly come to our support/resistance zone, stagnates for sometime and raises in our direction most of times.
These setups dont need complicated analysis or any technical analysis at all.
In this particular setup of Asianpaint , Risk reward is above 1.5 or if you decide to wait for better entry its way more than 2
Am planning to enter around 990's but depends on today's opening.
Asian Paints - Painting a Bullish Picture - 6/14/2016After almost a year and half consolidating below 900, there is a huge break out. If you are late to the party then there is no need to rush because chasing hardly helps. Two support levels of interest are 950 and 900. 950 being a minor support and 900 a big one. Currently we are selling the calls against the position ( Covered Call Strategy ) but during the pullbacks to these levels we will be looking to trade it from buy side.