|Buy Range||1351 – 1371|
|Target||1440 – 1450|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||5 – 6%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|1372.3||BUY||1351 – 1371||1440 – 1450||1331||15 – 20 Trading Sessions||5 – 6%|
# CMP on July 16, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 1406.
^ The returns are calculated based on CMP#
Founded in 1942, Asian Paints manufactures, sells and distributes paints and coatings for decorative and industrial use in India. Headquartered in Mumbai, the company operates in over 20 countries and has over 30 manufacturing facilities, servicing consumers in over 65 countries.
|Sectoral Index||Nifty 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- Attached weekly timeframe chart of Asian Paints Limited is signalling that the stock price was moving in a larger consolidation pattern in the last two years and is currently making an attempt to reach the upper boundary of the pattern.
TECHNICAL OBSERVATIONS (DAILY)
- The recent development on the price front indicates conclusion of the downtrend phase.
- Recent closing above the 15 days MA and Upper Bollinger Band showing bullishness.