๐ Weekly Support & Resistance Levels
Support Levels:
S1: โน2,524.63
S2: โน2,502.97
S3: โน2,481.13
S4: โน2,452.73
Central Pivot: โน2,553.57
Resistance Levels:
R1: โน2,568.13
R2: โน2,589.97
R3: โน2,611.63
R4: โน2,647.13
Central Pivot: โน2,553.57
๐ Technical Indicators (Weekly Timeframe)
Relative Strength Index (RSI): Indicates a bullish trend.
Moving Average Convergence Divergence (MACD): Shows a bullish crossover, supporting upward momentum.
Moving Averages: Both 50-day and 200-day moving averages are trending upwards, confirming a positive short-term outlook.
Pivot Points: Trading above the central pivot suggests a bullish bias.
๐ Observations
Asian Paints has been trading within a parallel channel since May 2021. A significant gap-down breakdown occurred in November 2024, followed by a series of bearish candles. If the current momentum persists, further downward movement is possible. However, the stock is approaching key support levels, which may act as a cushion against further declines.
Support Levels:
S1: โน2,524.63
S2: โน2,502.97
S3: โน2,481.13
S4: โน2,452.73
Central Pivot: โน2,553.57
Resistance Levels:
R1: โน2,568.13
R2: โน2,589.97
R3: โน2,611.63
R4: โน2,647.13
Central Pivot: โน2,553.57
๐ Technical Indicators (Weekly Timeframe)
Relative Strength Index (RSI): Indicates a bullish trend.
Moving Average Convergence Divergence (MACD): Shows a bullish crossover, supporting upward momentum.
Moving Averages: Both 50-day and 200-day moving averages are trending upwards, confirming a positive short-term outlook.
Pivot Points: Trading above the central pivot suggests a bullish bias.
๐ Observations
Asian Paints has been trading within a parallel channel since May 2021. A significant gap-down breakdown occurred in November 2024, followed by a series of bearish candles. If the current momentum persists, further downward movement is possible. However, the stock is approaching key support levels, which may act as a cushion against further declines.
I built a Buy & Sell Signal Indicator with 85% accuracy.
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
I built a Buy & Sell Signal Indicator with 85% accuracy.
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
๐ Get access via DM or
WhatsApp: wa.link/d997q0
| Email: techncialexpress@gmail.com
| Script Coder | Trader | Investor | From India
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.