Asian Paints - Ready to give a big upmove
Updated
This stock trades with good volumes on the bourses in the higher time frames.
Similarly, it is in the oversold zones of oscillators in higher time frames.
The 52W H/L being INR 3,568 / 2,694
It is consistently making Higher Highs and Higher Lows
It is standing right at the support level of INR 2925 and we expect it to bounce back from this support to make a new lifetime high.
If it fails to support INR 2925, it will enter its demand zone at INR 2700 wherefrom it will bounce back to reach almost its lifetime high
Resultantly, I believe that the target price should be INR 3760-3800
Stop Loss should be INR 2560
Risk to Reward will be 1:6
The time horizon should be 9-12 months
Similarly, it is in the oversold zones of oscillators in higher time frames.
The 52W H/L being INR 3,568 / 2,694
It is consistently making Higher Highs and Higher Lows
It is standing right at the support level of INR 2925 and we expect it to bounce back from this support to make a new lifetime high.
If it fails to support INR 2925, it will enter its demand zone at INR 2700 wherefrom it will bounce back to reach almost its lifetime high
Resultantly, I believe that the target price should be INR 3760-3800
Stop Loss should be INR 2560
Risk to Reward will be 1:6
The time horizon should be 9-12 months
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