ASIAN PAINT - BULLISH HARMONIC PRZ 2800 -2730 ZONE
Asian paint is one interesting stock with following
1. Price forming Bullish Harmonic BAT pattern on weekly chart
2. Pattern PRZ zone near 2810 - 2730 levels Subject to reversal confirmation at least on 4 hour/ daily chart
3. RSI on daily chart already below 20 (oversold zone)
4. 200 EMA support on weekly chart at 2780 levels
5. 50 EMA support on monthly chart at 2725 levels
6. Major Trendline support on weekly chart near 2870 levels {which may or may not sustain, so buy in minimum quantity if you find any reversal sign here}
7. Though RSI on weekly and daily is below 40 stock is bearish, and we need to wait for it to reach at point D and/or a reversal confirmation candle which confirms the PRZ zone, It is one of the option to keep on radar for positional and swing trade prospective
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. Price forming Bullish Harmonic BAT pattern on weekly chart
2. Pattern PRZ zone near 2810 - 2730 levels Subject to reversal confirmation at least on 4 hour/ daily chart
3. RSI on daily chart already below 20 (oversold zone)
4. 200 EMA support on weekly chart at 2780 levels
5. 50 EMA support on monthly chart at 2725 levels
6. Major Trendline support on weekly chart near 2870 levels {which may or may not sustain, so buy in minimum quantity if you find any reversal sign here}
7. Though RSI on weekly and daily is below 40 stock is bearish, and we need to wait for it to reach at point D and/or a reversal confirmation candle which confirms the PRZ zone, It is one of the option to keep on radar for positional and swing trade prospective
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.