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Asian Paints: Is it Losing it's shine?

Diwali season is considered one of the best season to get your house painted. With festive season gone behind us, is Asian Paints losing it's shine ?

Let us look at what chart has to tell us...

We are looking at daily charts of Asian Paints

The stock is seeing a lot of selling since it made a high of 3582 on September 28

- the stock is trading below it's 21 day, 50 day and 252 day EMA

These are not the signs that a strong bullish stock will show...

Going forward 3112 -3260 may potentially act as strong resistance zone

Support at 2830 / 2660

Important levels have been discussed. Trust it would help you plan your trade accordingly

Take care & safe trading....!!!

Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be