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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 ---------------------------------------------------------- Support : 1639 and 1595 Breakdown : 1659 CMP : 1686 Breakout : 1710.50 Short Target : 1748 ---------------------------------------------------------- Positive Point: 1) Bullish in weekly and monthly chart. ---------------------------------------------------------- (Disclaimer: This is only for educational purpose.)
NSE:ASIANPAINTShort
by singajai
ASIAN PAINTS | Making Higher Highs | Buy Opportunity (NSE India)Friends, please support this idea with LIKE if you find it useful. I'm seeing a buy opportunity here. Use the pullback to get in. Reason: - Seen a huge demand at market opening; Market gapped up. - Sellers tried to push the price down. They couldn't breach the yesterday's low; followed by strong rejection candle means a demand pool is there. - Making higher highs to the upside; bulls were in full control. - Weak resistance to the upside. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
NSE:ASIANPAINTLong
by Fx_Stormtrader
2
ASIAN PAINTS | Short Sell OpportunityFriends, please support this idea with LIKE if you find it useful. Even though its main trend is positive. Looks like price is going to retest the previous demand zone before it rides back to the upside. So you may get a sell opportunity here. Use the pullback to get in. Reasons: - Made a double top. - The price is trading near a resistance area. . - Nifty is weak. - Weak supports. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
NSE:ASIANPAINTShort
by Fx_Stormtrader