ASIAN PAINTS LTDPanjang
Asian Paints is bottoming.
As seen on the chart a bullish harmonic pattern is formed.
Post the low the stock has been in a range forming bullish candle patterns.
On Bollinger band we can see an inside - outside bottom.
and support on the RSI is a cherry on the cake.
The volumes have been low on the last candle hence a small dip to 2750 could be possible
which can be use as a buying opportunity.
The low of the pattern 2680(approx) a close below that can be the stoploss for this trade.
Targets for the trade
38.2% retracement - 3030
50% retracement - 3130
61.8% retracement - 3230
Traders who can ride this further should look for targets at 3500 and 3700
Analyst
Abhay Bhatia
Post the low the stock has been in a range forming bullish candle patterns.
On Bollinger band we can see an inside - outside bottom.
and support on the RSI is a cherry on the cake.
The volumes have been low on the last candle hence a small dip to 2750 could be possible
which can be use as a buying opportunity.
The low of the pattern 2680(approx) a close below that can be the stoploss for this trade.
Targets for the trade
38.2% retracement - 3030
50% retracement - 3130
61.8% retracement - 3230
Traders who can ride this further should look for targets at 3500 and 3700
Analyst
Abhay Bhatia
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.
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.