ASIANPAINT trade ideas
Asian Paint Bullish Bat in the making! Two scenarios
Firstly, I feel there will be test at 950 level, setting up for a bullish bat pattern, this seems appropriate given the retracement both from point A to C and also B to C leg close to .618 level. But this will be more conservative wait and watch before entering a trade.
Secondly, in the ABCD pattern there is a perfect retracement at .618 level, with the extension expected to test 1070 level on the upside.
Asian Paints Pullback Bullish entry setupTo be honest I really like the simple trend continuation pullback entries.
They exactly come to our support/resistance zone, stagnates for sometime and raises in our direction most of times.
These setups dont need complicated analysis or any technical analysis at all.
In this particular setup of Asianpaint , Risk reward is above 1.5 or if you decide to wait for better entry its way more than 2
Am planning to enter around 990's but depends on today's opening.
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.
