Asianpaints
asian paints ltdshare name : asian paints ltd
call type : shorting opportunity
- share is forming a downfall range
- 3016 is a good supply zone because we can see
a head and shoulder on daily time frame,
which is acting as a trend reversal
- 2599 is acting as a good demand zone
- we can sell this share around 3016 levels for
2599, if 2599 getting break we can see 2260
levels in upcoming months
- i am creating a imaginary picture for this share
thanks
ASIAN PAINT for long Term Investment. 𝙰𝚂𝙸𝙰𝙽 𝙿𝙰𝙸𝙽𝚃 𝙸𝚂 𝙾𝙽 𝚅𝙴𝚁𝚈 𝙶𝙾𝙾𝙳 𝙿𝙾𝚂𝙸𝚃𝙸𝙾𝙽. 𝙸𝚃𝚂 𝙰 𝙰𝚁𝚃𝚁𝙰𝙲𝚃𝙸𝚅𝙴 𝚃𝙸𝙼𝙴 𝚃𝙾 𝙱𝚄𝚈 𝚃𝙷𝙸𝚂 𝚂𝙷𝙰𝚁𝙴.
𝙱𝚄𝚈 𝙰𝙱𝙾𝚅𝙴 @ 3045/- 𝚕𝚎𝚟𝚎𝚕.. 𝚄𝚙𝚝𝚘 3165/- 𝚕𝚎𝚟𝚎𝚕 𝚒𝚜 𝚋𝚞𝚢𝚒𝚗𝚐 𝚣𝚘𝚗𝚎.
The stock stand on support level.. And there are several Support from this level.
* This is only my study. Please consultant with your financial advisor to Investment.
Asian paint looking good for shortingafter consistent up rally stock should take a pause between 3000 to 3200, I don't think stock could go up from here because its already been stretch a lot its been five days stock is going up And now fed report came and its slightly negative so my view is downward for some days until its beaks 3200 because here resistance on weekly chart I know crude prices are falling but that not how market should work right, commodities are different its take time commodities supply and demand gap can not fill in just week it takes time that is reason why prefer selling position in intraday btst for monday . FOR swing traders its great opportunity to add if its retrace to 200 ema and got support at 3000 u can add some qt to your account for long term the long term view of this stock is bullish as per its fundamental and past history chart analysis i think its better to avoid building new bullish position unless its retrace a little bit thank you
Asian paint buy and hold Asian paints chart
The stock is supporting the lower channel from long time.
Few days back the stock traded below the channel but we have seen a sharp bounce next day.
Today again the stock open gap down due to global sell off.
As long as today low holds we can see 327, 3340, 3480 level.
Wait for breakoutin 1 Hr TF, if price break trendline and give hard close after breakout we can see nice movement...
This means if the orange line breaks and make a complete white candle after breaking, the orange trend line then we can expect a nice upward movement.. or we can test pink or orange trending before a big upmove and similarly, if pink break and nice blue candle formed outside it then we can expect nice down movement, or before move down we may test pink or orange trend...
Asian Paints ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near resistance.
Market is bearish, so take positions carefully.