ASIANPAINT trade ideas
ASIANPAINT on verge of serious breakdownNSE:ASIANPAINT has broken down from a triangular consolidation and seem to have taken support at 200 week MA. Last time the stock touched 200 WMA was in 2009 (yes, a good long 15 years back).
If 200 WMA holds then it would save the stock but if it breaks then we might see up to 30% downside from current levels as per TA targets for the triangle and these are conservative targets.
Keep an eye this week to check what happens at the end of the week.
Asian paints ready to flyChart is self explanatory. Please follow the price action & take the trade as per your appetite.
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ASIANPAINTS Analysis??ASIANPAINTS::
This stock is trading in a channel
price is now at trendline,
previously multiple times taken the support from trendline...
keep in long side as long as price is above the trendline...
A strong demand Zone is observed at 2800 levels.
now price is in consolidation to bullishness is observed...chance of reversal from topside to test this demand zone again.
look for long opportunities in this stock.
ASIAN PAINTS GOOD TIME TO ENTERCan Enter at 2910
Targets - 3600,4000+
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