ASIANPAINT trade ideas
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...
#ASIANPAINTSHello,
Here I found A beautiful swing trade on Asian paints on a daily time frame. Lets see my trading setup
1-) the stock is in strong uptrend so I'm going in right direction
2-)A good support area plus a trend following 200 day moving average on which price closed yesterday
3-| A fake breakdown which means who ever shorted Asian paints their stop loss has been Triggered.
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.
ASIANPAINTS - RSI divergenceASIANPAINTS showing negative divergence on Weekly charts indicating weakness for short term.
ROC is clearly showing this divergence.
Increasing Oil prices and a Weakening Rupee are putting pressure on paint company margins for short term duration.
Be careful if holding long positions