Asianpaints, SupportI posted this chart twice, on 19th March and also on 7th April stating that a strong base (support) is being created for a long time-- almost a year. If the same is respected, price may see good upside. And the same is in place. Now what? Now we should watch the levels of 1240 and 1260, if these are held (some profit booking may happen below 1300), price may move towards 1340-50 and also above in near future.
ASIANPAINT trade ideas
AsianPaints, S&RSupport and Resistance plays often quite well. A long-held well justified support is holding the price from falling bellow. Trend is up. But big upside is restricted may be due to volatile political and market conditions. Possible resistance zone is marked and acting well for the short to medium term. Wait for the price to come back to support line.
AsianPaintsAs stated in two earlier posts that price has received support at well-defined long-held support zone and accordingly price is showing signs of tepid bullishness. At present price is consolidating in a small range for last 4-5 days. Price may move drastically if price breakout above this small resistance level.
Asian Paint Long for Day and swing tradeThe stock has reached its 61.80% Feb level of original start of the trend , now its facing some pull back but surely on Major up trend
You can view the buying area in combination with Volume confirming the institutional are again accumulating the stock , it means that Now big players are accumulating for next higher move
One can Look for buying for holding stock for swing trade
For day trader it is not advised to go through the high whipsaws they can buy above 1105 and look for target of 1124 for day trading with stop of 1100
and for swing trader they can accumulate Near 1068/1065 with stop of 1020 for target of 1241
This information is only for educational not to be considered as suggestion , all your decision must be made according to your own technical analysis
Regards