ASIAN PAINTS - 30% PROFIT OPPORTUNITY COMING SOON! - LONG

Aug 6

ASIAN PAINTS

1. Trading between the price zones 2663 and 3550 since May 2021. This gave a good opportunity for a swing trade with a 33% profit stretch
   
2. Strong rejections at 3550 during Sep 2021, Jan 2022, Aug 2022, Sep 2022, Jul 2023,
   
3. Taken good support near 2660s during Mar 2022, Jun 2022, Jan -Apr 2023, May 2024
   
4. From Dec 2023 the price is not able to touch the 3550 range - but returned down from the 3400 range. This shows the stock is weak from Dec 2023 till today.
   
5. It forms a down-side triangle pattern. Unless it breaks out the triangle pattern it won't touch the resistance zone 3550
   
6. Considering the current global market situation, there are chances it may come down to the support zone and create a buying opportunity
   
7. Buy Zone: 2663-2820
   
8. Target 1: 3036 (13% - 15%); Target 2:3550 (30-33%)
   

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