ASIAN PAINTS BREAKOUT POSSIBLE ?
ASIAN PAINTS:- GOOD OPPURTUNITY OR MONEY TRAP
Currently ASIAN PAINTS is trading not far from all time high investors cane get 6% easy return but what are the probablity of making new all time high???
BELOW ARE THE POINTS THAT CAN HELP YOU.
As you can see daily and monthly MACD cross over are giving bullish signal.
Also from historical monthly data candles fail to give breakout above 3550 level.
But at that time MACD and RSI conditions were net that favourable as it is right now.
So as per my knowledge it can became an idle condition for candle to breakout above 3550 levels .
Also with that there is a good support at 3150 level(200 DMA)(pivot points fibonacci)
Also if you invest for 6 months share has potential to give you 30-55% return as company always have good december quarter
Technical indicators
1. Heikin ashi bullish(daily,weekly,monthly)
2. Rsi (50) strong momentum
3. Rsi + linear regreesion (oversold zone)
4. Ichimoku clouds thick green
Fundamental analysis
1. Company is fundamentally strong
2. Quarterly sales are growing gradualy
3. Material cost is reducing every quarter
4. Due to which profit are rising quarterly
5. Company every year gives highest revenue in December quarter (can wait till January to get >25% returns) as result will come around that date.
6. Company has highest market share
7. ROCE and ROE good
8. Have more than enough reserves to give bonus
ALL THE ABOVE POINTS ARE AS PER MY KNOWLEDGE.
I APPRECIATE YOU FOR SHARING YOUR THOUGHTS ON THIS IF ANYTHING OR ANY POINT HAD BEEN LEFT OUT
Currently ASIAN PAINTS is trading not far from all time high investors cane get 6% easy return but what are the probablity of making new all time high???
BELOW ARE THE POINTS THAT CAN HELP YOU.
As you can see daily and monthly MACD cross over are giving bullish signal.
Also from historical monthly data candles fail to give breakout above 3550 level.
But at that time MACD and RSI conditions were net that favourable as it is right now.
So as per my knowledge it can became an idle condition for candle to breakout above 3550 levels .
Also with that there is a good support at 3150 level(200 DMA)(pivot points fibonacci)
Also if you invest for 6 months share has potential to give you 30-55% return as company always have good december quarter
Technical indicators
1. Heikin ashi bullish(daily,weekly,monthly)
2. Rsi (50) strong momentum
3. Rsi + linear regreesion (oversold zone)
4. Ichimoku clouds thick green
Fundamental analysis
1. Company is fundamentally strong
2. Quarterly sales are growing gradualy
3. Material cost is reducing every quarter
4. Due to which profit are rising quarterly
5. Company every year gives highest revenue in December quarter (can wait till January to get >25% returns) as result will come around that date.
6. Company has highest market share
7. ROCE and ROE good
8. Have more than enough reserves to give bonus
ALL THE ABOVE POINTS ARE AS PER MY KNOWLEDGE.
I APPRECIATE YOU FOR SHARING YOUR THOUGHTS ON THIS IF ANYTHING OR ANY POINT HAD BEEN LEFT OUT
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