Long

SWING IDEA - ASIANPAINT

Updated

2807 Support level seems to be playing well since 3 years now.
MACD also making cross exactly at current support zone.
Stock currently looks good at this point.
Weekly closes above 2807 level should look for a move upward.

Note

Positive News:

Asian Paints Arm to Acquire Additional 24% Stake in SCIB Chemicals

Note

Stock gave another Fresh Entry at mentioned point.
Gave max of 4.5% profits so far. Setup is still in play. Let's keep it going.

Note

Positive News:
The Singapore unit completed the acquisition of a 23.4% stake in Egypt's SCIB
Chemicals for Rs 34 crore and now holds an 85.6% stake in SCIB

Note

Positive News:
Asian Paints has completed the proposed investment of around SG$32 million in its Singapore-based wholly-owned subsidiary Asian Paints International, according to a Wednesday filing to the stock exchanges.

Note

Positive News:
Sharekhan's research report on Asian Paints - "Buy Asian Paints; target of Rs 3385"

Note

News: India's Asian Paints top gainer on Nifty 50 after report of price hikes

Note

Hopefully we are going to see some good rally in the coming week with all the Positive News about the stock.

Note

Positive News: Asian Paints Exec Says Expect Double-Digit Volume Growth For Q2

Note

Positive News: Buy Asian Paints; target of Rs 3305: Geojit Financial Services

Note

Trade closed: target reached

Trade Completed. Target Achieved.
Total 17% Profits booked.
Time Taken = 16 weeks.

Congrats to those who made good profits with this Trade.
This is how perfectly Price Action can mint you money when done right.

Trade can still be held on based on your Risk Management as the momentum still looks strong and it is possible that the Stock can go further upward.

Follow for more such Ideas!
Comment any Stock that you want me to take a look into and share insights.

Kudos!!

thepranam

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.