This stock trades with good volumes on the bourses in the higher time frames.
Similarly, it is in the oversold zones of oscillators in higher time frames.
The 52W H/L being INR 3,568 / 2,694
It is consistently making Higher Highs and Higher Lows
It is standing right at the support level of INR 2925 and we expect it to bounce back from this support to make a new...
Observations:
------->> Asianpaints is trending upwards strongly.
-------->> Previous Support at 3020-3030 level , If this level acts as resistance price may fall.
-------->> careful at this level before going long from here.
-------->> Recently price breaks an untested supply zone at 2950-2955 range, if this level acts as support and price breaks...
As of 23 February ASIANPAINT closed at 3237. If you look at the chart the stock is trading above the TRENDLINE. There is small RESISTANCE area between the price of 3262-3282.If it consolidate between the TRENDLINE and the RESISTANCE area for next 2-3 days then after that it can give a UP side momentum.
NOTE-
ENTRY-3190-3264
STOPLOSS- 2980
1st TARGET- 3470...
