ASIAN Paints close to moving out of consolidation
Asian paints has been in consolidation phase from a long time over a long time frame.
Currently it is showing some indication of breaking out of the resistance levels. Green line in the chart a midterm resistance. Once crosses and sustains it can give good move in near term.
I see it touching the move higher level resistance marked in purple line at top around the level of 3180-3200.
Once that line is crossed with great volumes and after retracement on the same line can show some good move also touching ATH all depending on overall Market conditions. Up levels 3200-3340-3560 and more per volume with lower levels around 2.5k
No recommendations, just my view based on chart pattern.
Currently it is showing some indication of breaking out of the resistance levels. Green line in the chart a midterm resistance. Once crosses and sustains it can give good move in near term.
I see it touching the move higher level resistance marked in purple line at top around the level of 3180-3200.
Once that line is crossed with great volumes and after retracement on the same line can show some good move also touching ATH all depending on overall Market conditions. Up levels 3200-3340-3560 and more per volume with lower levels around 2.5k
No recommendations, just my view based on chart pattern.
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