ASIANPAINT trade ideas
Symmetrical TriangleSymmetrical Triangle, simple trend follow, wait for sell in support in is mention on the chart, book profit if price touch the line
BULLISH ABOVE 1698 LEVELS FRO 1733 / 1745 BULLISH ABOVE 1698 LEVELS FRO 1733 / 1745
BUT RISING CRUDE PRICE ARE POSING AS A BIG CONCERN
IF MARKET CORRECTS THEN IT WILL CORRECT TO 1544 LEVELS FOR SHORT TERM
Buy Red Sell Green 1690.35 currently
Thought i'd have a look at his since its in the red today and apparently a favorite of many.
Making a nice pennant on the daily with 3-4 attempts already at breaking upwards.
Had a nice bullish engulfing a few days ago and now retraced just to where support is on the yellow line .
Descending wedge in play i would say very low risk since SL is just a tad below at 1674.75.
This should fly to 1800 at the very least however i feel this one goes on price discovery soon as well.
Cheers!
Possible breakoutA possible breakout could be seen as stock as consolidated at these level and seeking a fresh new high levels with good volume support
IF BROKEN BOTTOM LINE TGT 1520-1530 POSITIONALIF BROKEN BOTTOM LINE TGT 1520-1530 POSITIONAL WAIT TILL LINE BROKEN
Shorting View on Asian PaintShorting View on Asian paint on basis of completion of Harmonic pattern Gartley Pattern
ASIANPAINT - GO LONG FOR A GREAT RR BY JULY ENDASIANPAINT - GO LONG @ CMP WITH A SL OF 1483 AND A TARGET OF 2040. TARGET SHOULD BE ACHIEVED BY JULY-END. COMPULSORY EXIT ON TARGET COMPLETION. CAN GO SHORT.
ASIANPAINTS LONG TERM VIEWStrong piercing candle fronm the 21 SMA with RSI divergence indicates a strong downward movement
Targets
1506
1363
1258
1165
