Asian paints share price daily chart analysis
Asian paints share on last trading session closed at 473 with loss. On daily chart, stock price trend and momentum both are down. Means short-term trend is bearish and indicators also given confirmation to that with sell signal in last session at 480.
For month of March, Asian paints share below 482 will remain bearish or sell on rise. On downside, expect strong supports at 456 and then 430 while on upside 482 is 3-month average and strong resistance while above that 505 will be next resistance level.
Traders below 482 on closing basis stay short or stay away. Fresh sell signal had set Asian paints share target at 456 and below that 430 also possible if market remain negative.
Asian paints share price weekly chart analysis
Asian paints share on weekly chart is near major support of 470. If this week gives closing below it then that will be medium term bearish breakout for stock and much lower levels expect in medium to long-term view. Weekly chart indicators are bearish and suggesting downside rally fro prices in upcoming weeks.
On chart, for Asian paints share supports are 470 and then 380 rupee. While on upside 570 and 650 are strong resistances.
370-400 is best zone to go long with medium term view and expect targets 500-570 in next 6-8 months.
Asian paints share price monthly chart analysis
Asian paints share in last 6 month is almost market performer and given 20% return to investors, while index had delivered 18-19% in same period. From long-term view, an Asian paint stock below 280 is looks better in value so investors look for that. On upside I have my technical target at 640, which is expected in next 12-24 if market condition supports. In bull, market target will come around 850, which can be expected in next 3-5 years period.
Asian paints company description
Asian Paints Limited is a paint company. The Company operates in Decorative Coatings and Industrial Coatings segments across India and in the geographies of Asia, Middle East, Caribbean and South Pacific Islands through its subsidiaries and joint ventures. In Decorative paints, the Company is in the four segments: Interior Wall Finishes, Exterior Wall Finishes, Enamels and Wood Finishes. The Company’s two chemicals businesses, Phthalic Anhydride, manufactured at Ankleshwar, Gujarat and Pentaerythritol, manufactured at Cuddalore, Tamil Nadu. The Company’s subsidiaries include Asian Paints (Nepal) Private Limited, Asian Paints (International) Limited, Asian Paints Industrial Coatings Limited, Multifacet Infrastructure (India) Limited and Maxbhumi Developers Limited.
Asian paints stock fundamental ratios
468.50 – 476.35
373.40 – 5,247.75