ASIAN PAINTS – Ready to Retest All-Time High?

📲 ASIAN PAINTS – Ready to Retest All-Time High?

After a deep correction, Asian Paints has built a strong base and is now sustaining above the crucial 61.8% Fibonacci level, which is a positive technical signal for a continuation of the upside move.

📌 Trade / Investment Plan
• CMP: ₹2980
• Stop Loss: ₹2840
• Targets: ₹3400 / ₹3600

📍 Structure & Logic
• Big downside already absorbed → base formation complete
• Sustaining above 61.8% retracement = bullish zone
• Recent results were strong, reducing bearish sentiment
• Negative impact of Birla Opus launch fading
• Lower crude prices = margin support for paint companies
• Structure aligning for a possible ATH retest & breakout

⚠️ Trading Approach
Maintain controlled position sizing and show patience. Let the structure mature and avoid chasing.

⚠️ Clarification:
This is an independent analysis based purely on technical and market study. No part of Religare is involved in this view or recommendation.

📝 Important:
I am not responsible for any loss or profit incurred. I am not taking any fees for these views – just sharing my analysis for educational and informational purposes.

📉 Disclaimer: Not SEBI-registered. Please do your own research or consult a financial advisor before taking any investment decision.