ASIAN PAINTS LTD: INTRADAY SETUP FOR WEEK
My Intraday Set up for Asian Paint for next few days.
As discussed previously , the stock has just seen the reversal trend in upward direction , we must thus wait for opportunities to buy.
On 15 min chart , the stock is currently in range as detailed in chart. Once the breakout is seen , we have the opportunity to enter the trade. The entry trigger will be the price action @ 2852.20 , leading us to various targets as detailed in chart. Each targets is preceded by some resistance . Hence , conservative traders may exit and re-enter the trade once the resistance is broken out.
The technical indicators at current level are as under :
CMP : 2825.55
MA50 : 2822.08
MA200 : 2801.62 ( Cross Over)
RSI : 57.894 crossing over
ADX(14) : 17.682 ( No Directional Strength - In range )
ATR (14) : 5.18 ( Less Volatile )
One must enter the trade only after the Breakout , and conservative traders shall wait for price action. Good Luck !!!
Suggestions are welcome .
As discussed previously , the stock has just seen the reversal trend in upward direction , we must thus wait for opportunities to buy.
On 15 min chart , the stock is currently in range as detailed in chart. Once the breakout is seen , we have the opportunity to enter the trade. The entry trigger will be the price action @ 2852.20 , leading us to various targets as detailed in chart. Each targets is preceded by some resistance . Hence , conservative traders may exit and re-enter the trade once the resistance is broken out.
The technical indicators at current level are as under :
CMP : 2825.55
MA50 : 2822.08
MA200 : 2801.62 ( Cross Over)
RSI : 57.894 crossing over
ADX(14) : 17.682 ( No Directional Strength - In range )
ATR (14) : 5.18 ( Less Volatile )
One must enter the trade only after the Breakout , and conservative traders shall wait for price action. Good Luck !!!
Suggestions are welcome .
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