Forming a third consecutive lower high and lower low pattern, Nifty settled the session in positive territory. It also implies that selling pressure could intensify only if Nifty fails to sustain above 10,250.
ICICI Direct recommended hold rating on Asian Paints with a target price of Rs 1241 in its research report dated October 25, 2017.
Prabhudas Lilladher recommended accumulate rating on Asian Paints with a target price of Rs 1239 in its research report dated October 24, 2017.
Edelweiss is bullish on Asian Paints has recommended buy rating on the stock with a target price of Rs 1273 in its research report dated October 24, 2017.
The company said standalone profit during the quarter rose by 8.8 percent year-on-year to Rs 473.45 crore and revenue from operations increased 14.6 percent to Rs 3,602.2 crore.
Key thing to watch out for would be its domestic volume growth that is expected to be around 7-8 percent for the quarter, against 3 percent in Q1FY18 and 12 percent in Q2FY17.
The midcap Index which was again the outperformer, up 1.29 percent led by Jain Irrigation Systems and Jaiprakash Associates while Bajaj Auto, ICICI Lombard General Insurance Company, MphasiS and Vedanta were some of few stocks that hit 52-week high on the NSE.
Net Sales are expected to increase by 7.9 percent Y-o-Y (up 8 percent Q-o-Q) to Rs. 4566.7 crore, according to ICICI Securities.
Prices of titanium di oxide (TiO2), the key raw material for paints, is firming up again on account of capacity shutdowns in China. Along with this, oil prices have added to the margin pressure for paint companies.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy L&T, Asian Paints, Whirlpool of India, Sun TV Network and Bajaj Finance and advises selling Ajanta Pharma and Dish TV.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Piramal Enterprises, L&T Finance Holdings and Indiabulls Real Estate and can sell BHEL and Apollo Hospitals.
Ashwani Gujral of ashwanigujral.com recommends buying Asian Paints, IGL and UltraTech Cement.
Mitessh Thakkar of miteshhthakkar.com is of the view that one can buy Asian Paints, Petronet LNG and Tech Mahindra and sell Torrent Pharma.
Sandeep Wagle of powermywealth.com recommends buying Asian Paints and Petronet LNG.
Ashwani Gujral of ashwanigujral.com recommends buying Balkrishna Industries, Asian Paints and Jubilant Foodworks.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Bata India, Tech Mahindra and ACC and sell Bank of India and Torrent Pharma.
Ashwani Gujral of ashwanigujral.com suggests buying IGL while advises avoiding aviation stocks.
Ashwani Gujral of ashwanigujral.com recommends buying Kotak Mahindra Bank, Asian Paints and CESC.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Asian Paints, Gruh Finance, HUDCO and Nalco and sell Bharat Forge.
Mitessh Thakkar of mitesshthakkar.com suggests selling Dabur India and Apollo Tyres and advises buying Container Corporation of India, Aptech and Future Consumer.
As traders turn cautious over the geopolitical issues coupled with the domestic headlines, the market is expected to ride on the volatile regime with a negative outlook in the short-term unless it witnesses favourable events.
According to Mitessh Thakkar of mitesshthakkar.com, one can buy BEL, Hexaware Technologies and CONCOR and sell Asian Paints, MRPL and Piramal Enterprises.
Mitessh Thakkar of mitesshthakkar.com suggests buying Cipla, Oil India and Petronet LNG and advises selling Larsen & Toubro and Raymond.
Amit Gupta of ICICIdirect is of the view that one may pick State Bank of India, Federal Bank, Asian Paints and Petronet LNG.
Sandeep Wagle of powermywealth.com is of the view that one can sell Bank of Baroda and buy Asian Paints.