Asian paints on the daily time frame is forming a bearish flag type of pattern.
The stock has been consolidating in a parallel channel.
There is a bearish moving averages cross over and stock price is taking rejection form the 20 ema.
3 point confirmation.
1. Bearish flag on daily time frame.
2. Bearish moving average crossover.
3. 50% fibonacci level rejection.
Asian paints is forming a nice pattern. Let the stock give a break down and close outside the consolidation zone.
Target :- 3045, 2981
Stop loss :- 20 ema on daily time frame.
Wait for the price action near the levels and enter only after the stock break down of the consolidation zone.
The stock has been consolidating in a parallel channel.
There is a bearish moving averages cross over and stock price is taking rejection form the 20 ema.
3 point confirmation.
1. Bearish flag on daily time frame.
2. Bearish moving average crossover.
3. 50% fibonacci level rejection.
Asian paints is forming a nice pattern. Let the stock give a break down and close outside the consolidation zone.
Target :- 3045, 2981
Stop loss :- 20 ema on daily time frame.
Wait for the price action near the levels and enter only after the stock break down of the consolidation zone.
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