IGI Logo

Asian Paint Ltd 

BUY 25 AUG 2760 CALL  Entry Range 34 - 38  Target 60  Stop Loss 24

Rationale

* ASIANPAINT continued to maintain its broader bullish structure, with the stock sustaining above the rising trendline support and holding comfortably above the 20-DEMA, indicating that the underlying trend remains positive. The current price action reflects healthy consolidation near the higher levels.

* The stock prices are recently witnessed a reversal from its 50-DEMA zone around the 2700 mark, which provide a immediate downside cushion for the near term. Sustained trading above this zone is likely to keep the bullish bias intact and support further accumulation on dips.

* Momentum indicators are supportive, with RSI holding near 60 mark, indicating positive momentum without entering overbought territory. The MACD histogram hovering in the positive territory, suggesting that the near term momentum continues to favour the upside despite the recent consolidation.

Please refer disclaimer at https://www.religareonline.com/disclaimer

SEBI Registration number is INZ00017433