Currently the stock is at 19% discount levels from all time high.
Asian Paints (TF=W)
1. Stock has given trendline breakdown
2. Negative crossover of 5, 13 Weekly Exponential Moving Average
3. Next Support is at 2770 levels
Asian Paints (TF=D)
1. Stock has given Trendline breakdown
2. Also there is formation of Bearish Flag and Pole Pattern
3. Below 200 Days Exponential Moving Average
View Point:
1. Bearish view unless there is reversal from 2770 levels.
Addl Points:
1. As there is inverse relationship in Crude Oil and Asian Paints, and crude is touching its all time high levels, there is more downside expected in Asian Paints.
Inverse Relationship: Crude Oil is used as a raw material for the company. therefore, increase in the cost of Crude will result in decrease in profits of the company (Asian Paints) which will in turn impact the profitability of the company.
Note: The above analysis is for educational purpose.
Asian Paints (TF=W)
1. Stock has given trendline breakdown
2. Negative crossover of 5, 13 Weekly Exponential Moving Average
3. Next Support is at 2770 levels
Asian Paints (TF=D)
1. Stock has given Trendline breakdown
2. Also there is formation of Bearish Flag and Pole Pattern
3. Below 200 Days Exponential Moving Average
View Point:
1. Bearish view unless there is reversal from 2770 levels.
Addl Points:
1. As there is inverse relationship in Crude Oil and Asian Paints, and crude is touching its all time high levels, there is more downside expected in Asian Paints.
Inverse Relationship: Crude Oil is used as a raw material for the company. therefore, increase in the cost of Crude will result in decrease in profits of the company (Asian Paints) which will in turn impact the profitability of the company.
Note: The above analysis is for educational purpose.