Asian Paints after a strong rally from around Rs. 3000 (March 2012) to make an high of 4677. It has broken the upward trend line for short term along with the negative divergence in RSI, DPO and price confirmation on downward side showing the signs of correction. Break below 4550 has shown weakness.
It is showing a clear signs of distribution and top with the targets of 4 _ _ _ and 4 _ _ _. The downward prcie action can retrace up to _ _ _ _. The key price levels and retracements are intentionally omitted to know more about it contact us back on http://fortunfin.com/contact-us.
Disclaimer: This is just an view based on the research of individual. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in stock markets.
It is showing a clear signs of distribution and top with the targets of 4 _ _ _ and 4 _ _ _. The downward prcie action can retrace up to _ _ _ _. The key price levels and retracements are intentionally omitted to know more about it contact us back on http://fortunfin.com/contact-us.
Disclaimer: This is just an view based on the research of individual. So kindly trade along with the consultation of your financial adviser, market trends, price action and own risk appetite considered while investing or trading in stock markets.
No comments:
Post a Comment