CMP 799.
Based on Monthly chart, Asian Paint, retraced below wave 4 bottom from the High 5249.55.
Based on my Daily Chart,
Wave 2 retraced 50% of wave 1
Wave 3 made 238.2% (2.382) of Wave 1
Wave 4 retraced more than 23.6% and less than 38.2%, which is normal retracement level for Wave 4.
Also, it has taken support between wave 4 of WAVE 3.
If 776 supports, I expect to see another bull move minimum targeting 915.
What if Wave 4 is not yet completed?
If we consider that, wave 4 is not yet over, it will restricted by 869 and any move below 776, I expect to see 723 (wave a = wave c).
Trade Ideas:
1. Can buy Asian Paint at CMP 799, with Max SL 775 for 915+++.
2. Sell below 775, with SL 869 for 723, 691, 668, 634.
Let us see how this progresses.
These are my views based on my analysis. TRADE AT YOUR RISK.
Based on Monthly chart, Asian Paint, retraced below wave 4 bottom from the High 5249.55.
Based on my Daily Chart,
Wave 2 retraced 50% of wave 1
Wave 3 made 238.2% (2.382) of Wave 1
Wave 4 retraced more than 23.6% and less than 38.2%, which is normal retracement level for Wave 4.
Also, it has taken support between wave 4 of WAVE 3.
If 776 supports, I expect to see another bull move minimum targeting 915.
What if Wave 4 is not yet completed?
If we consider that, wave 4 is not yet over, it will restricted by 869 and any move below 776, I expect to see 723 (wave a = wave c).
Trade Ideas:
1. Can buy Asian Paint at CMP 799, with Max SL 775 for 915+++.
2. Sell below 775, with SL 869 for 723, 691, 668, 634.
Let us see how this progresses.
These are my views based on my analysis. TRADE AT YOUR RISK.
