Asian Paints: Is it Losing it's shine?

Oct 27, 2022

Diwali season is considered one of the best season to get your house painted. With festive season gone behind us, is Asian Paints losing it's shine ?

Let us look at what chart has to tell us...

We are looking at daily charts of Asian Paints

The stock is seeing a lot of selling since it made a high of 3582 on September 28

- the stock is trading below it's 21 day, 50 day and 252 day EMA

These are not the signs that a strong bullish stock will show...

Going forward 3112 -3260 may potentially act as strong resistance zone

Support at 2830 / 2660

Important levels have been discussed. Trust it would help you plan your trade accordingly


Take care & safe trading....!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be