Get started
ASIAN PAINTS LTD.ASIAN PAINTS LTD.ASIAN PAINTS LTD.

ASIAN PAINTS LTD.

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options

ASIANPAINT trade ideas

Asian Paints | 75% returns | 3 year consolidation breakoutASIAN PAINTS Monthly time frame Stock in consolidation since Dec 2020 Stock riding above 20-, 50- & 200-month moving averages Stock touched 50 MMA in May 2024, almost 15 years after previous occurrence Stock has closed above 20- month moving average after 2.5 years RSI > 50 MACD crossover about to occur, signalling bullish momentum Weekly time frame Stock in the verge of breaking out of the white resistance trend line Stock has touched 20-, 50- & 200-week moving averages at the same time RSI > 55 MACD signalling bullish momentum Volumes have been good from Jan – Aug 2024, signifies buying has been done Daily time frame Stock recently bounced from the orange support line in May 2024 Stock following the rounded bottom formation Stock riding above 20-, 50- & 200-day moving averages 20DMA has just crossed 200DMA and golden crossover also is approaching RSI > 55 MACD is above the 0 line, considered bullish Conclusion Entry: 3,050 Stop Loss: 2,850 Target 1: 3,500 Target 2: 4,222 Target 3: 5,250 Fundamentals ROCE = 37 {Ideal > 15} ROE = 31 {Ideal > 15} Stock PE (57) = Industry PE (54) {Stock not overvalued compared to Industry} Int Coverage = 33 {Ideally > 2} CF Operations / EBIT = 0.88 {Ideal value > 1} Debt to equity = 0.13 {Ideal value < 1} Promoter stake has remained consistent over the years > 50%
NSE:ASIANPAINTLong
by shyamsrk2
5
SWING IDEA - ASIAN PAINTSAsian Paints , one of India's largest paint companies, is showing promising technical signals for a potential swing trade. Reasons are listed below: 3000 Zone as Previous Resistance : The 3000 level was a significant resistance zone that the price has now broken and retested, indicating a strong bullish sentiment. Dragonfly Doji on Daily Timeframe : The formation of a dragonfly doji on the daily chart suggests a potential reversal to the upside after testing support, reflecting strong buying interest at lower levels. 50 and 200 EMA Support on Daily Timeframe : The stock is trading above both the 50 and 200-day exponential moving averages, which serve as strong support levels, reinforcing the bullish outlook. Break of 6-Month Consolidation : The stock has broken out of a 6-month consolidation phase, signaling the potential for a new uptrend and increased momentum. Bounce Back from Golden Zone : The stock has bounced back from the golden Fibonacci retracement zone (0.618 level), which often acts as a strong support and suggests a continuation of the uptrend. Target - 3185 // 3420 Stoploss - daily close below 2950 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:ASIANPAINTLong
by Visionary_Growth_Insights