Asian Paints Breakout
There is a formation of a small ascending triangle on 2 hrly chart,
and an inverted head and shoulder on higher time frame (4 hrly chart)
level around 3039 (marked by white horizontal line is the common resistance zone for both the patterns
A breakout has occured through this zone, and on breakout, there is higher than average volume and rising atr as well.
SL and target for a short term trade are marked on chart
and an inverted head and shoulder on higher time frame (4 hrly chart)
level around 3039 (marked by white horizontal line is the common resistance zone for both the patterns
A breakout has occured through this zone, and on breakout, there is higher than average volume and rising atr as well.
SL and target for a short term trade are marked on chart
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