Nifty 50 top gainer-ASIANPAINT stock upside resistances 880-920

Asian Paints Limited today was top gainer in nifty 50 indexes. The stock closed at 871 with almost 37 rupees gains. On weak crude oil, the company might show good profit margin and on that basis strong buying is seen in stock. On the upside, 880 and 920 rupees are resistances as well as target zones for Asian Paints stock. These are previous swing highs of daily charts. On the downside, 820 and 790 support areas.
Today stock closing breached previous week high which is a very bullish sign for short term traders. For intraday traders, 855 is buy level with stop loss for targets 880 and 895 in intraday.
As soon as stock crosses 920 level, the stock will be super bullish and may hit 970 to 995 targets.

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Pramod Baviskar

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