ASIANPAINT trade ideas
Asian paintsbelow 2370, possible target is 2315/2255. 2250 -2300 is potential reversal zone for asian paints.
#Asian Paints weakness spotted ?Markets are at ALl TIME HIGH while Asian Paints is down by 500 points(-17.5%).
It can further correct to its demand zone of 2250-80 .
Price falling with the rise in Future O I indicates more short positions buildup.
Asian Paint: Bullish Divergence on hourly chartAsian paint is forming Bullish RSI Divergence on hourly chart in oversold zone.
A bounce from 2430-2440 levels possible. Wait for an entry.
Targets and stop loss on chart.
Asian paints wait and enter at 2250Very good demand zone identified. Please find Marking zone.
Entry 2250. Another demand zone near 1965. So, from 2250 buy ok dips.
Asian Paint - ShortAsian Paint CMP - 2513.95
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell at or Below 2500 ONLY / Stop Loss 2528
Target 1 - 2490
Target 2 - 2480
Target 3 - 2470 / 2460
Disclaimer: This is my view and for educational purpose only.
Go for Long.Asian Paints is the dominant leader in the lucrative decorative paints industry. Looking at its chart pattern, good support and resistance has occurred forming triangle pattern. Good volume and PAT growth implies good future. Good support at 2430-2440. Average or buy at CMP.
Asian Reaction on 3.618 FIBAsian finally reacted. FInally on 3.618 FIB Today a wedge breakdown also happened with evening star pattern.
FOllowup selling will realy confirm is this is major reversal or just one red marubozu daily candle and starts going up again
