ASIANPAINT trade ideas
Long Call Asian Paint - Operator moveHello Friends,
The best operator move found on the Asian paint chart. The way Chart formed by the operator i am very confident that next week this stock will give good move. Below are my observation :-
1. Operator initiate good buying at the start of the week.
2. Stock holds the level of 1670. 1680 level which created the support zone.
3. All the selling getting absorb at the same level.
4. at 1hr chart seen the huge buying which gave the confidence to initiate the trade in same.
5. 50, 200 EMA cross over at support zone.
Entry 1690 -1700, SL 50-60 points Target 1800
Regards,
Satish
ASIAN PAINT - Black Marubozu & Bearish Engulfing - on breakdown#ASIANPAINT after deceleration of YoY result on 24th June stock is opening and closing over the 100EMA and taking the support.
Today 8th July stock created the Black Marubozu and Bearish Engulfing candle that show weakness in stock but again it closed above 100EMA support.
Showing Bearish in all Technical Parameter:
Black Marubozu
Bearish Engulfing
CCI Bearish
William R% treading down
RSI treading down
Closing below previous low
Close crossing last month close from above
Aggressive New Shot position
Stock underperforming from Benchmark and sectrol index on 1 week and 3 month both
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Support : 1639 and 1595
Breakdown : 1659
CMP : 1686
Breakout : 1710.50
Short Target : 1748
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Positive Point:
1) Bullish in weekly and monthly chart.
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(Disclaimer: This is only for educational purpose.)