Asian Paints Trading Strategy for 16th December 2024

Asian Paints Trading Strategy
Key Levels:
Buy Above: 2422 (on the high of the candle that closes above 2422 on a 5-minute chart)
Sell Below: 2391 (on the low of the candle that closes below 2391 on a 5-minute chart)

Targets:
Upside Target: 2460
Downside Target: 2360

Strategy Details:
Buy Signal: Enter a buy position above the high of the candle that closes above 2422 on a 5-minute time frame.
Sell Signal: Enter a sell position below the low of the candle that closes below 2391 on a 5-minute time frame.

Uptrend Confirmation: Asian Paints is likely to resume an uptrend if the price closes above 2470 on a daily closing basis.

Additional Tips:
Monitoring: Continuously monitor the 5-minute chart for clear buy or sell signals.
Risk Management: Always use a stop-loss to manage risk and protect your capital.
Market Conditions: Stay updated on market news and events that could impact Asian Paints.

Disclaimer:
I am not SEBI registered. This analysis is for informational and educational purposes only. Please consult with a certified financial advisor before making any trading decisions.