ASIAN PAINTS UPMOVE?Asian paints can give a good up move with a decent stoploss and good Targets as it is trying to break several months range in daily time frame. And so we can get a good swing to positional trade opportunity.
ENTRY -2925-2930
STOPLOSS - 2905
TARGETS - 2995, 3030, 3100++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
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ASIANPAINT trade ideas
Asian Paints - Ready to give a big upmoveThis stock trades with good volumes on the bourses in the higher time frames.
Similarly, it is in the oversold zones of oscillators in higher time frames.
The 52W H/L being INR 3,568 / 2,694
It is consistently making Higher Highs and Higher Lows
It is standing right at the support level of INR 2925 and we expect it to bounce back from this support to make a new lifetime high.
If it fails to support INR 2925, it will enter its demand zone at INR 2700 wherefrom it will bounce back to reach almost its lifetime high
Resultantly, I believe that the target price should be INR 3760-3800
Stop Loss should be INR 2560
Risk to Reward will be 1:6
The time horizon should be 9-12 months
Asian Paints Intraday and Swing for 06.05.2024-Bullish
As per the reference analysis on 29th April for intraday, we got good trades(Attached link for the previous analysis). In continuation to this, we got very good structure formation towards bullish movement.
Weekly and Day TF is at Strong support area
15 Min TF
• Price is in upward trend
• Price is reacting as per previous breakout.
• Resistances are converting to support which is good sign on bullish hold.
• Wait for more consolidation. More consolidation and upside breakout then more chance and quantity can be increased
• Fibonacci retracement has taken strong support at 0.618 Level which is very good sign trend continuation. Also volumes has decreased during retracement
Strong Buy: Above 2951. Target upto 2990. Swing traders can hold for more profits
Get confirmation from any of the leading indicators before entering trade
Kindy comment below in case of any clarification required on this particular idea.
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ASIAN PAINTS RBTSASIAN PAINTS has given a buy signal according to range bound trading strategy. The lower limit of the range is 2707.05 and the upper limit of the range is 3500. The stock has covered the range three times in the past. Although the March 2024 quarterly results are not as good as the previous quarter but with increasing demand of residential projects in Bharat(which can be tracked by the news articles), the demand of paint is also bound to increase and this will surely enhance the turnover and profitability of the largest paint maker in Bharat.
Please do your own analysis before investing.
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ASIANPAINT + PTT + SMART MONEY CONCEPT + GANN SQ 9 + EILLOT WAVEThe Samart money concept by LuxAlgo provides bluee area indicating support zone while the red area been the resistance zone.
The Progressive Trend Tracker by KivancOzbilgic gives us a band on blue and red line which is a well modified version of bollinger bands. Price above blue line triggers the buy signal. We observe that the price is well above the blue line.
The GANN square of 9 is providing important support and resistance levels as observed in the charts.
The eillot wave abc pattern is as seen in the chart.