ASIAN PAINTS
Asian Paints was moving in a down trending channel for almost 5 months and gave a break out today with good volumes. Stock can move till 833-836 which is at 61.8% retracement of previous fall. If praise sustain above this range we can also see the previous highs of 900-922 range. Generally look for 60 - 80% of retracement of previous fall as weekly chart shows a V shape reversal in the stock. Go long on the stock and buy in every dip.
Asian Paints was moving in a down trending channel for almost 5 months and gave a break out today with good volumes. Stock can move till 833-836 which is at 61.8% retracement of previous fall. If praise sustain above this range we can also see the previous highs of 900-922 range. Generally look for 60 - 80% of retracement of previous fall as weekly chart shows a V shape reversal in the stock. Go long on the stock and buy in every dip.
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