ASIAN PAINTS - POSITIONAL SWING TRADE IDEA IN CASH
SYMBOL - ASIANPAINT
Asian Paints is the largest home decor company in India. The 80+ year old company has major brands like Asian Paints, Berger, Apco etc. under its umbrella. The co. is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware, lightings, soft furnishings, and uPVC windows.
Asian Paints is currently trading between two major supply and demand zones since a long time. CMP of Asian paints is 2700 & It is approaching demand zone on weekly basis.
I'm seeing a positional trade opportunity on buy side. I usually trade in futures but this time I'm taking this trade in cash as general elections are due in June which is a major event for market makers.
Current PE of Asian paints is 46 which makes it a value buy at CMP. I'm investing 50% allocation today at CMP 2700. I'll invest 50% more at 2580-2600 levels & will hold this position with 2500 as SL. Targets I'm expecting on long side will be 2950 - 3220 - 3410 & new ATH. I'm ready to hold this trade for 3 - 6 months.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Asian Paints is the largest home decor company in India. The 80+ year old company has major brands like Asian Paints, Berger, Apco etc. under its umbrella. The co. is into wall paints, wall coverings, waterproofing, texture painting, wall stickers, mechanized tools, adhesives, modular kitchens, sanitaryware, lightings, soft furnishings, and uPVC windows.
Asian Paints is currently trading between two major supply and demand zones since a long time. CMP of Asian paints is 2700 & It is approaching demand zone on weekly basis.
I'm seeing a positional trade opportunity on buy side. I usually trade in futures but this time I'm taking this trade in cash as general elections are due in June which is a major event for market makers.
Current PE of Asian paints is 46 which makes it a value buy at CMP. I'm investing 50% allocation today at CMP 2700. I'll invest 50% more at 2580-2600 levels & will hold this position with 2500 as SL. Targets I'm expecting on long side will be 2950 - 3220 - 3410 & new ATH. I'm ready to hold this trade for 3 - 6 months.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
Trade active:
CMP 2885
7% move in just 2 days after posting my trading idea.
7% move in just 2 days after posting my trading idea.