ASIANPAINT trade ideas
Asian Paints - Painting a Bullish Picture - 6/14/2016After almost a year and half consolidating below 900, there is a huge break out. If you are late to the party then there is no need to rush because chasing hardly helps. Two support levels of interest are 950 and 900. 950 being a minor support and 900 a big one. Currently we are selling the calls against the position ( Covered Call Strategy ) but during the pullbacks to these levels we will be looking to trade it from buy side.
ASIAN PAINT POTENTIALL 0.618 PULLBACK SHORT ENTRY In this stock we have potential 0.618 trade setup wait for that pullback to 0.618 level and short there. entry,stop loss and target given on chart..
TRADE WITH CARE
REGARDS
KING999
Asian Paints - TREND CHANGEKey points that I noted on weekly chart,
1. Lower Lows and Lower Highs
2. Bearish Pattern
3. Bearish Divergence on RSI
4. Bearish Harami Candlestick pattern
It denotes and confirms a trend change signal and I would be very cautious in investing in it. I assume large institutes have started selling this stock.
Asian Paint "Short" before Q3 Results It seems like Gartley pattern formation and a dark cloud candlestick pattern on the charts, which
Asian Paints "Short" before Q3 Results It seems like a bearish cypher pattern and dark cloud candlestick pattern formation right now on charts, that indicates weakness on charts and bearishness.
I would be interested in selling the stock in this weak markets and put a strict stop loss 896 with Target 1 at 829.
