📲 ASIAN PAINTS – Ready to Retest All-Time High?
After a deep correction, Asian Paints has built a strong base and is now sustaining above the crucial 61.8% Fibonacci level, which is a positive technical signal for a continuation of the upside move.
📌 Trade / Investment Plan
• CMP: ₹2980
• Stop Loss: ₹2840
• Targets: ₹3400 / ₹3600
📍 Structure & Logic
• Big downside already absorbed → base formation complete
• Sustaining above 61.8% retracement = bullish zone
• Recent results were strong, reducing bearish sentiment
• Negative impact of Birla Opus launch fading
• Lower crude prices = margin support for paint companies
• Structure aligning for a possible ATH retest & breakout
⚠️ Trading Approach
Maintain controlled position sizing and show patience. Let the structure mature and avoid chasing.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer: Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
After a deep correction, Asian Paints has built a strong base and is now sustaining above the crucial 61.8% Fibonacci level, which is a positive technical signal for a continuation of the upside move.
📌 Trade / Investment Plan
• CMP: ₹2980
• Stop Loss: ₹2840
• Targets: ₹3400 / ₹3600
📍 Structure & Logic
• Big downside already absorbed → base formation complete
• Sustaining above 61.8% retracement = bullish zone
• Recent results were strong, reducing bearish sentiment
• Negative impact of Birla Opus launch fading
• Lower crude prices = margin support for paint companies
• Structure aligning for a possible ATH retest & breakout
⚠️ Trading Approach
Maintain controlled position sizing and show patience. Let the structure mature and avoid chasing.
⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.
📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.
📉 Disclaimer: Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.