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ASIAN PAINTS LTDASIAN PAINTS LTDASIAN PAINTS LTD

ASIAN PAINTS LTD

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ASIANPAINT trade ideas

ASIANPAINT + PTT + SMART MONEY CONCEPT + GANN SQ 9 + EILLOT WAVEThe Samart money concept by LuxAlgo provides bluee area indicating support zone while the red area been the resistance zone. The Progressive Trend Tracker by KivancOzbilgic gives us a band on blue and red line which is a well modified version of bollinger bands. Price above blue line triggers the buy signal. We observe that the price is well above the blue line. The GANN square of 9 is providing important support and resistance levels as observed in the charts. The eillot wave abc pattern is as seen in the chart.
NSE:ASIANPAINTLong
by satyajbims
Asian Paints: A Bullish Outlook Asian Paints has displayed a notable pattern on its weekly chart, characterized by a pole and flag formation. Although the price broke below the flag pattern, it failed to sustain significant follow-up selling pressure. Presently, the stock is traversing within the golden reversal zone (Fibonacci Retracement 113% - 127%), indicating a potential liquidity sweep orchestrated by smart money investors. Moreover, the price action aligns with the completion of an ABC correction pattern within the Elliott Wave structure. This suggests a probable uptrend, targeting a 20% - 22% upside trajectory. A plausible support level lies around 2800, while prudent traders should establish stop-loss orders at 2685, with investors setting theirs at 2500. Asian Paints boasts strong fundamentals, despite recent market turbulence triggered by news of new entrants in its business segment. While this may introduce heightened competition, it also signifies a burgeoning market landscape in India and other developing nations. Furthermore, Asian Paints is diversifying its offerings into segments like bathroom fittings, interiors, and furniture, indicating a strategic expansion beyond its traditional domain. In light of these factors, I maintain a fundamentally positive stance on Asian Paints. Hence, I advocate a "BUY" recommendation, anticipating a 20% - 22% upside potential from current levels, with a tight stop-loss set at 3%.
NSE:ASIANPAINTLong
by LiveTradingBox