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Asianpaintsforecast

ASIAN PAINTS - 30% PROFIT OPPORTUNITY COMING SOON! - LONGASIAN PAINTS 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 Strong rejections at 3550 during Sep 2021, Jan 2022, Aug 2022, Sep 2022, Jul 2023, Taken good support near 2660s during Mar 2022, Jun 2022, Jan -Apr 2023, May 2024 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. It forms a down-side triangle pattern. Unless it breaks out the triangle pattern it won't touch the resistance zone 3550 Considering the current global market situation, there are chances it may come down to the support zone and create a buying opportunity Buy Zone: 2663-2820 Target 1: 3036 (13% - 15%); Target 2:3550 (30-33%) Trade and Invest Wisely with your knowledge! Good Luck! You can also see my other stock analysis and the results in my profile ideas. Please follow me, If you would like to see more ideas on winning stocks. **Disclaimer: I am NOT a SEBI registered consultant/Advisor (nor any country-authorized board registered consultant/Advisor). It is completely my view and opinion. My intention is not to provide any financial advice, training advice, or recommendations on stock/Forex/Coin buying or selling. Please do your research and consult with your financial advisor before taking any action. I am not responsible for any of your actions on buying, selling, or holding the above-mentioned stock or/and index or/and Forex or/and coins.
Editors' picks
NSE:ASIANPAINTLong
by pmosesoliver
3
Asian Paints Ltd - Breakout OpportunityDate : 5-Jun-2024 Rating : Buy - Positional Trade LTP : Rs. 2,961.75 Targets: (1) Rs. 3,180 --> (2) Rs. 3,308 --> (3) Rs. 3,423 --> (4) Rs. 3,590 SL : Rs. 2,777 on daily close basis Technical View: • Since Apr-2021, NSE:ASIANPAINT is moving sideways between 2,560 and 3,590. It was recently going through it's secondary downtrend. • After touching the high of 3,422.95 on 29-Dec-2023, it has retraced 22% to 2,670.10 level. • On 5-Jun-2024, NSE:ASIANPAINT has broke out from its secondary down trend with higher than average volume. • NSE:ASIANPAINT has also closed above 20 DMA, 50 DMA and 21 DEMA on 5-Jun-2024. Very close to cross the 200 DMA. • RSI has formed bullish cross over and trading at 61.23. MACD is in buy zone and trading at 11.65. • Both MACD and RSI has formed positive divergence indicating trend reversal and bullish momentum. • Looking strong to start a new swing from here. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. Ideas are published for learning purpose only.
NSE:ASIANPAINTLong
by vicky252
Asian Paints near a break down.Asian Paints has been taking support from the 200 ema on the daily charts and is trading between both the moving averages. The stock closed below the weekly 20 ema and today test the level and closed almost flat. If the market remain in a bearish trend, there can be a short trade in the stock as it has test the support levels many times. Entry :- Below 3150 Targets :- 3090, 3048 The stock today tried to move up but slowly came down and closed near the support levels of 3150. Asian paints has been trading below both the moving averages on the hourly and 15 minutes charts. Positional and swing trade can be initiated in the stock as it may take 2-3 days in hitting the targets. Wait for the price action near the levels before entering the trade.
NSE:ASIANPAINT
by Mambotrade
Asian Paints - Buy on Dips OR Wealth Erosion?Asian Paints has been a consistent compounder in Indian decorative paints Industry. With increasing Crude Oil volatility expectation from February due to Russia's decision to not sell Crude Oil to countries respecting EU's $60 price cap, the share has corrected from 3600 to 2800 levels ~ 22% The recent earnings report further accentuated the concerns of investors, with slowing sales growth, but rising Operating Margins nonetheless. As per the management, it was a result of prolonged monsoon in October, which caused a tepid festive season sale. The rising competition in Paints industry is not oblivious to anyone either, Grasim, JSW have major capex commitments. Will this lead to margins erosion, which when combined with slow Revenue growth, is a recipe for Wealth Erosion? or will Asian Paints continue to enjoy super normal profits from its yet undisturbed monopoly? On the Technical side, the share has come back to 140 day EMA on weekly, which has been an undefeated support zone since 2009. However, the same trend was also observed for Berger Paints with 100 day EMA, but we recently saw how it not only broke it clearly, but has been trading below it for around 1 year now. It will be very interesting to see if Asian Paints can bounce from here, but in my opinion, there aren't many/any positive triggers for the market side, apart from a shining decade long outperformance record of wealth creation. At a PE of 70 and 10 Year Median PE of 58, it seems like the worst is yet to come. However, my guess is as good as yours. I believe it might be a good time to take a step back, and reconsider our blind faith in perceived bluechip companies with unsustainable PE levels and single digit earnings growth, like Pidilite as well. I do not intend to attract any criticism, and would like to clarify that it is my personal opinion, and I can be completely wrong at it. As a fellow swimmer in the tides of the markets, I have learnt that one can never be too cautious, only too overconfident.
NSE:ASIANPAINT
by Aayush_Rungta
Asian paints following the Index bullish move.Asian paints after consolidating in a parallel channel has given a break out of the zone and closed above the box. The stock on the daily time frame has closed above both the moving averages. For the intraday trade, the stock has formed a flag and pole pattern on smaller time frame. On hourly time frame, the stock has given a close above 20 and 200 emas. 3 point confirmation. 1. Break out on daily time frame of the consolidation zone. 2. Closed above both the daily moving averages. 3. High volumes than the previous day. Asian paints ltd is a high weightage stock in Nifty index and can follow the bullish trend of the market. Target :- 3185, 3240 Stop loss :- Close below 200 ema(hourly time frame). Wait for the stock to retest of the consolidation zone and price action near the level before entering the trade. Both intraday and swing opporunity can be initiated once the stock closes above the flag and pole pattern.
NSE:ASIANPAINT
by Mambotrade
1
Asian paints forming flag and pole pattern.Asian paints on the daily time frame is forming a bearish flag type of pattern. The stock has been consolidating in a parallel channel. There is a bearish moving averages cross over and stock price is taking rejection form the 20 ema. 3 point confirmation. 1. Bearish flag on daily time frame. 2. Bearish moving average crossover. 3. 50% fibonacci level rejection. Asian paints is forming a nice pattern. Let the stock give a break down and close outside the consolidation zone. Target :- 3045, 2981 Stop loss :- 20 ema on daily time frame. Wait for the price action near the levels and enter only after the stock break down of the consolidation zone.
NSE:ASIANPAINT
by Mambotrade
Breakout Possible in Asian PaintHello Friends, As the prices of crude oil dropping the scrip is moving higher high. Now the scrip is trading near ATH and getting it self ready for another breakout to reach ATH. Consolidating near resistance and forming a Flag type pattern. Once the resistance is broken then we may see a strong up-move in this scrip, #Note -The purpose is for analysis for education and not a trade recommendation, We don't give any guarantee of Profit or loss So trade on your won risk.
NSE:ASIANPAINTLong
by TheStocktrader_Skn
Asian paints forming flag and pole pattern.Asian paints had traded in a narrow range whole day after a initial up move. On a daily anaylsis, the stock has broken its both crucial moving averages with a nice volume confirmation and can remain in green. It has been taking resistance from its 4 hour 200 ema and has formed a doji in the end. Immediate resistance are the high the points from where it retraced on a 15 minute time frame i.e. 3116, 3125 Once both the levels are crossed it can touch the target of 3160. Support :- 3100,3072 Resistance :- 3108, 3120, 3160 It has formed a flag and pole pattern on hourly time frame. Wait for the levels to break the range and watch for the price action before entering the markets.
NSE:ASIANPAINT
by Mambotrade
Asian Paints Analysis !! Breaking Down.📈 Asian Paints 📉 Asian Paints is breaking down from Support after 25May2022. Earlier it use to be Resistance as well so it holds more bias. So good stock for shorting, Possible targets on downside will be 2277 around levels. All Important Supports and Resistances are drawn in chart. All levels are on closing basis. Please have a look and revert back if you need some more study on it. Disclaimer : Consult Your Financial Advisor Before Taking Any Decision On This Analysis.
NSE:ASIANPAINTShort
by ShelendrAgrawal
4