Asian Paints

Weekly Doji Close

Asian Paints is back above its initial R1 & R2 liquidity zone above 2745 & 2756 which are now considered as support zones.

The weekly candle close starting 10th of April '23 ended up as a 'Doji' Candle also known as a 'Dragonfly Doji' a rare occurance on the weekly, technically this suggests strong support levels have been made around initial breakthrough liquidity zone around R1 & R2 which recently breached.

2809 is now an important level marked, if we continue to see price higher than 2809 next levels are for volume imbalance to cover around 2824.

The 2824 once covered, we are likely to witness pressure around 2834, once breached Asian paints would continue to move towards new highs, with targets above Rs.3000