|Sell Range||1450 – 1410|
|Target||1350 – 1300|
|Duration||25 – 30 Trading Sessions|
|Potential Return^||4 – 8%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|1409.85||SELL||1450 – 1410||1350 – 1300||1475||25 – 30 Trading Sessions||4 – 8%|
# CMP on Apr 10, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 1380.
^ 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. Asian paints Q3 profit zooms to Rs 631.73 crore for the December 2018 quarter, against Rs 550.69 crore in the year-ago period.
|Sectoral Index||NIFTY 50|
TECHNICAL OBSERVATIONS (DAILY)
- The stock registered a resolute breakout of the past five months suggests a robust downside movement.
- The breakout is associated with Gap and Volumes during the last two days are above its 10 days average, indicating strength in the downtred.
- The closing is below 5 EMA and 10 EMA crossover on daily charts.