ASIANPAINT trade ideas
SELL ASIANPAINT Near 1555-1560 SL 1570 TG 1540-1500Trading at strong daily monthly and weekly resistance
ASIAN PAINTSTHe breakout from the channel or the curve pattern was with good volume.
I see a possibility of the target in green to be matched in the near medium term.
Kept under watchlist for short sell or PUT option buying NSE:ASIANPAINT trending for last 5 days and forms enters double top range, under watch list for potential short sell or PUT option buying.Crude oil price variation may have impact on this script.waiting for 15 Mins reversal to proceed with short selling..
Asian paints....do you have a trade plan ???Asian paints has been respecting the price channel drawn on the daily chart for the last three years. Also if you notice , this stock follows a certain pattern . It falls sharply after touching the upper end of the channel and gravitates towards the lower end of the channel ( marked by oval shape) . after that it consolidates in between the channels and touches the upper end of the channel without touching the lower end of the channel. The price at the moment is in my buy zone. I am keenly watching if the stock holds 1288 levels and gives some bullish reversal pattern to go long. conservative traders can wait for the downtrend line to be broken to go long for targets of 1525 & the second target is the upper channel. I hope this information was helpful to you.
Plan your trades & then trade the plan.
Happy trading !!!
Short Asian PaintsI am seeing bearishness on Asian Paints. If the opening is less than the yesterdays open, I think it is better for shorting.
A red bar and Inverted hammer show the bearishness. As it is just near breaking the Bollinger bands, observe, if breaks, then a good number of points can be earned.
ASIAN PAINTSHere , We can see on the chart,Asian Paints is making Lower lows and highs,so it is in downward trend on Daily chart(a correction),also it is somewhat in corrective mood only in weekly chart.But it is a t its support of 1330 level from which i expect it to bounce somewhat,then we can think of selling calls above 1480 and as per IV situation.Currently IV of all major stocks of Indian Market are very high due to election uncertainty.So i recommend to wait until it gets bounce back and then we will think of selling calls.
HAPPY TRADING.
Sell on breakoutSell if their is a breakout on lower side,If you are a long term investor then use this dip to buy this stock for mid term.
All the best!
Asian PaintsOngoing trend is up, and price has for now come to the slope and should ideally bounce to fill the gap area first! It may eventually continue with the overall trend and make a new high.
Asian Paint Education1. Rising Channel
2. Cup is completed, waiting for Handle
Only Education Purpose
Asian Paints Ltd # Head and Shoulder pattern, RR - 1:2, ShortShorting Opportunity if it breaks neckline...Pls share your positive input to make this analysis more effective....
Note - I am new learner on this forum.... I may have done some mistake while analysing...I request all especially seniors to share your views if you find something good or weak area in my analysis.
Pls do your own research before taking any trade based on this analysis
Regards
Shyam Kumar
