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ASIAN PAINTS LTDASIAN PAINTS LTDASIAN PAINTS LTD

ASIAN PAINTS LTD

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ASIANPAINT trade ideas

ASIANPAINT - Bear pattern playing out?ASIANPAINT on Daily timeframe looks to be breaking down of the bear flag formation. As we can see from the chart, we broke down of the bear flag but today (so far) it seems to have held 3150 level. If the bear flag were to play out, then we should see it losing 3150. Ideally, 3300 level would have been best to short but since I missed to notice the chart, I could not and will not short at these levels unless it shows weakness and loses 3150. Targets on the downside will be 3100 and below that we have 3050 as immediate targets. Rising Crude price will also impact Paint stocks. Low crude prices benefits Paint companies as it lowers their costs and increases margins.
NSE:ASIANPAINT
by adkis
Bullish Triangle Pattern on the Hourly ChartAs a trader, it's essential to have a solid understanding of various chart patterns and how they can impact your trading decisions. One such pattern is the bullish triangle pattern, which can form on the hourly chart when a stock's price is respecting the resistance and support lines on the daily chart. In this blog post, we'll take a closer look at this pattern and how it can be used to identify potential trading opportunities. What is a Bullish Triangle Pattern? A bullish triangle pattern is a specific type of chart pattern that forms when a stock's price is contained within a tight range, creating a triangular shape. This pattern is considered bullish because it indicates that the stock is likely to experience upward movement once it breaks out of the triangle. How Does the Bullish Triangle Pattern Form on the Hourly Chart? To understand how the bullish triangle pattern forms on the hourly chart, let's first take a look at the daily chart. On the daily chart, the stock's price is respecting the resistance and support lines, indicating that it is consolidating. As the stock continues to consolidate, the price action becomes tighter and more defined, eventually forming a triangle pattern on the hourly chart. Characteristics of a Bullish Triangle Pattern There are several key characteristics of a bullish triangle pattern that traders should be aware of. These include: Tight Range: The stock's price remains within a very tight range, creating a triangular shape on the chart. Resistance and Support Lines: The stock's price is respecting the resistance and support lines on the daily chart, indicating that it is consolidating. Upward Trend: Once the stock breaks out of the triangle pattern, it is likely to experience upward movement. Confirmation: The bullish triangle pattern is considered stronger if it is confirmed by other chart patterns, such as a head and shoulders pattern or a continuation pattern. Trading Strategies Using the Bullish Triangle Pattern Once you have identified a bullish triangle pattern on the hourly chart, there are several strategies you can use to trade the stock. One popular strategy is the "breakout" strategy, which involves entering a long position once the stock breaks out of the triangle pattern. Another strategy is the "scalping" strategy, which involves entering and exiting positions quickly based on small price movements. This strategy requires a high degree of discipline and can be challenging to execute successfully. Risk Management Techniques Regardless of the trading strategy you choose, it's crucial to manage your risk effectively. This includes setting stop-loss orders, managing your position size, and diversifying your portfolio. Conclusion Identifying the bullish triangle pattern on the hourly chart can be a powerful tool for traders looking to capitalize on upward momentum. By understanding the characteristics of this pattern and using effective trading strategies, you can increase your chances of successful trades. Remember to always manage your risk carefully and stay disciplined in your approach.
NSE:ASIANPAINT
by stocktechbot
1
Asian paints will touch 3400 again For all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
NSE:ASIANPAINT
by JaiPrakashShuklaHarmonicTrader
ASIANPAINTS--@Near Golden Zone ??The stock is facing resistance from the zone 3560-3580 zone.... After a strong bullish momentum from bottom levels, price is now given retracement to the golden zone of fibonacci.... Look here for buying opportunity to enter long.... @3200 Zone previously a strong buy ness is observed... Keep track this for buying. This time price may break the resistance levels... A strong consolidation is observed before reaching the Golden Zone and also a strong fall indication of exhaustion of sellers.... Keep an eye on these levels @3360 will again try to push downside... If this zone pushes the price down 3240 level will again pushes the price upside... keep look for buying....
NSE:ASIANPAINT
by IIT-Trader
1