๐ Weekly Support & Resistance Levels
Support Levels:
S1: โน2,524.63
S2: โน2,502.97
S3: โน2,481.13
S4: โน2,452.73
Central Pivot: โน2,553.57
Resistance Levels:
R1: โน2,568.13
R2: โน2,589.97
R3: โน2,611.63
R4: โน2,647.13
Central Pivot: โน2,553.57
๐ Technical Indicators (Weekly Timeframe)
Relative Strength Index (RSI): Indicates a bullish trend.
Moving Average Convergence Divergence (MACD): Shows a bullish crossover, supporting upward momentum.
Moving Averages: Both 50-day and 200-day moving averages are trending upwards, confirming a positive short-term outlook.
Pivot Points: Trading above the central pivot suggests a bullish bias.
๐ Observations
Asian Paints has been trading within a parallel channel since May 2021. A significant gap-down breakdown occurred in November 2024, followed by a series of bearish candles. If the current momentum persists, further downward movement is possible. However, the stock is approaching key support levels, which may act as a cushion against further declines.
Support Levels:
S1: โน2,524.63
S2: โน2,502.97
S3: โน2,481.13
S4: โน2,452.73
Central Pivot: โน2,553.57
Resistance Levels:
R1: โน2,568.13
R2: โน2,589.97
R3: โน2,611.63
R4: โน2,647.13
Central Pivot: โน2,553.57
๐ Technical Indicators (Weekly Timeframe)
Relative Strength Index (RSI): Indicates a bullish trend.
Moving Average Convergence Divergence (MACD): Shows a bullish crossover, supporting upward momentum.
Moving Averages: Both 50-day and 200-day moving averages are trending upwards, confirming a positive short-term outlook.
Pivot Points: Trading above the central pivot suggests a bullish bias.
๐ Observations
Asian Paints has been trading within a parallel channel since May 2021. A significant gap-down breakdown occurred in November 2024, followed by a series of bearish candles. If the current momentum persists, further downward movement is possible. However, the stock is approaching key support levels, which may act as a cushion against further declines.
I built a Buy & Sell Signal Indicator with 85% accuracy.
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
I built a Buy & Sell Signal Indicator with 85% accuracy.
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.