ASIANPAINT trade ideas
Asian Paints Bearish DivergenceAsian Paints is showing bearish divergence on RSI,MFI and MACD and also its breaking down from flag pattern, my observation is one can short with a stop of 1820 on closing basis , there can be a sharp down side for Asian Paints from current levels
ASIAN PAINTS outlook for 31.10.2019ASIAN PAINTS above 1825 can FLY
Intraday target can be 1875-1915
1-2 week target can be 2150-2200
Asianpaints - Support BrokeSupport Levels: 1761, 1742, 1735, 1727, 1717
Resistance Levels: 1781, 1799, 1820
Trendline Support Levels: 1757
Trendline Resistance Levels: NA
Asian Paints - Flag and Pole Break outAsian Paints has given a Flag and Pole Break Out... Looks Good... Stop Loss 1801....
a slow mover, with a good base in short term trading chartgood base formation...
might go even higher, resistance marked for self trading purpose
disclaimer... not an investing/trading recommendation
Asian Stocks Are Sundry After Fed MeetingAsian stocks on Thursday became mixed in its morning trade following the U.S. Federal Reserve cuts its key interest rate for the second time in two meetings.
Hong Kong’s Hang Seng Index dropped 1.2%. Aside from that Asian stock, traders are strictly focusing on the development of the ongoing political unrest in the city. Nancy Pelosi, a U.S. House of Representatives Speaker, held a news conference with House members overnight. And this includes Joshua Wong, Denise Ho, and other Hong Kong activists who showed support to the Hong Kong Human rights and Democracy Act of 2019.
Pelosi stated, “Democrats and Republicans in the House and the Senate enthusiastically support this legislation.” And she also said that they are one with all who fights for a peaceful and hopeful future.
Next week, the U.S. congressional will vote on the legislation. And this would probably include terms like annual reviews of Hong Kong’s special economic status. Also, it will have the imposition of sanctions on those who undermine their autonomy.
Other Asian Stocks
Then, more on Asian stocks, China’s Shanghai Composite and the Shenzhen Component advanced 0.1% and 0.3%.
In addition to that, Japan’s Nikkei gained 0.5%. The Bank of Japan kept its short-term target at -0.1%. However, it stated, “it is becoming necessary” to give more attention to the potential that the momentum towards achieving its price target will be lost. Later in the day, BOJ governor Haruhiko Kuroda will provide a briefing.
It noted, “The BOJ will re-examine economic and price developments at its next policy meeting when it updates the outlook for economic activity and prices.”
Another part of Asian stocks, South Korea’s Kospi traded 0.3% higher.
Meanwhile, Australia’s ADX rose by 0.5%. In the data, it displayed the country’s employment growing 34.7k in August, surpassing the 10k expectation. On the other hand, the unemployment rate gained 0.1% to 5.3%, similar to expectations.
ACC - Intraday Trade Setup - 9 September 2019Please consider watching the Intraday Levels in ACC for 09 September 2019
ASIAN PAINT Long till 1640-1660 Asian paint can be long till 1650-1660 from there reversal expected.
Short reversal target 1 : 1530, 1480
Asian Paints Ltd {NSE : ASIANPAINT}:: Asian Paints Ltd ::
Recommendation By CKVIEW. Place Order With Given Stop-Loss.
Sell Asian Paints Ltd - 1550
First Target - 1500
Second Target - 1450
Stop Loss - 1575
Thanking You...
structure tradingIf there is a pattern structure like this it is a valid trade
refer chart for details
