DOES ASIANPAINTS LOOKS WEAK ?
Well if we look at the its daily chart, its clearly visible that it has closed by breching a very strong consolidation area at the top and the breakdown is also supported by the clear triple negative divergence in RSI and also it has closed below the zero line of bollinger band which it was supporting while it was in consolidation , and if we look at ADX the Dmi- line has crossed above the Dmi+ line. so currently all the market singnals are idicating a sell off.
But the last reason of concern currently is the level of 1755, as it is a previous low support zone.
so have a clear and an open mind for this level also.
And with this lets keep our fingers cross for the coming week.
But the last reason of concern currently is the level of 1755, as it is a previous low support zone.
so have a clear and an open mind for this level also.
And with this lets keep our fingers cross for the coming week.
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