ASIANPAINT short We are expecting that the price will continue going higher towards resistance.
Speculative short position set up:
entry: 3605.05
target:2880.45
stop loss: 3729.65
ASIANPAINT trade ideas
Book profit in sAian Paints
Its time to book profit in Asian Paints, it should consolidate or go down from here for a couple of weeks
ASIANPAINTS- Support becomes Resistance??Observations:
------->> Asianpaints is trending upwards strongly.
-------->> Previous Support at 3020-3030 level , If this level acts as resistance price may fall.
-------->> careful at this level before going long from here.
-------->> Recently price breaks an untested supply zone at 2950-2955 range, if this level acts as support and price breaks 3020-3030 range, price will reach next Resistance @3100-3145 range.
ASIANPAINT NEAR DOUBLE BOTTOM BREAKOUTThe price taken support near the upward trendline and formed double bottom structure on daily timeframe & now trading near the breakout level if price breakout the level of 2825 and sustain above it than we can see a sharp momentum in the price towards the upside level . The level of 2740 --2700 is an important support level for the price. The RSI also taken support @ 40 level , which showing good momentum in the price for the upside levels.The upper targets will be 2900/2950/3033 towards the upside. Good opportunity to buy stocks for investment point of view.
ASIANPAINTS FALLING WEDGE BREAKOUT#SwingTrade - #AsianPaints (1 HR)📈
👉#Asianpaints
Buy 2750-2775
SL - 2700 (1 HR CLB)
TGT - 2905/3000+
📌Logic📈
👉Trendline Support
👉Falling Wedge Pattern Support
👉Falling Wedge Breakout + W Pattern Breakout
ASIANPAINTS- Demand Zone @2840The ASIANPAINTS has been trending upwards,
but now it is at previous resistance level @2900 now ,if it shows some bearish pressure this time will at least gives pullback,
observed a demand zone at 2840 level.
GO long here for target of untested Supply zone @2960
Asian Paints a long term investment idea and a portfolio stockAsian Paint company is well known as Paint company. Company became corporate force and India’s leading paint company. Company manufactures a wide rang of paints for decorative and industrial use and also offers wall coverings, water proofing, adhesives and other related services. Company also manufactures home improvement bath and kitchen products. CMP of the stock is 2882.10.
On the back of low crude prices, the stock seems to be poised for a rally. Negatives of the company are high valuation (P.E. = 74.3) and MFs are decreasing stake. Positives of the company are No debt, improving net profit and company trying to decrease it’s pledging. The company is a portfolio stock and a long term investment idea.
X/2 Entry in Asian paints can be taken after closing above 2885. Final entry in the stock can be taken after closing above 2975. The targets for the stock will be 3028 and 3152. Long term targets for the stock will be 3242 and 3300+. Stop Loss in the stock can be kept at a weekly closing below 2693.
Asianpaints weekly view 24th to 28th April 2023 View Asian Paints Tripple bottom formation
Buy Above 2882 Sl 2865, Targets 2924, 2954,2985,3012,3163
Short Below 2848 SL 2885 Target 2813,2760,2753
Asian paints daily swing Asian paints is on the upswing. I have drawn the trend lines. It should touch the upper line..
Asian paint at best buying levelAsian paint at support level, more chances to reach at 2900 , 3000 level in short time.
Asian paints breakoutStock is forming ascending triangles pattern once it crosses 2760 target of 2782 and 2800 can be achieved.
If stock breaks the trend line and trade below 2725 further fall till 2703 and be achieved
Low risk positional tradeAtleast 10% upward move can be aimed if we hold little longer. It's lying down on strong support level, waiting to form a big green candle. That would be the trigger.
Ascian Paint will be Bulish if Breaks the ResistanceAt the Small resistance if breaks the rally will start soon
Sell Asian Paints NSE:ASIANPAINT
Sell below 2750 (Spot) and make future hedge to go short on this.
Mean sell future and buy CR which have at least 70% intrinsic value.
ASIANPAINT 1HR (27 MARCH 2023)NSE:ASIANPAINT
Asianpaints is going in a channel pattern.
but keep in your mind
shortly again a horizontal support is 2740 .
above 2740 it is ready for upside.
upside target is 2952.
Asian Paints looks to be in TrendAs the Crude oil Spiked upto almost 12% from it's recent lows now we can trade in Asian based on Crude oil Retracement
Looks like Good to go for a target of 2950 atleast from here
Trend also shows that
price should come deep inside the zone, as nifty,spy is bearishprice should come deep inside the zone, as nifty,spy is bearish
AsIf price comes at entry level 1 then take 60% quantity and balance 40% take from entry 2.
Trade at your own risk.
