SP Tulsian of sptulsian.com told CNBC-TV18, "I have been giving a buy call on Asian Paints from Rs 425 in September series when it has started. In fact we have seen a price of Rs 505 in September series. I think that 5 percent correction, which is seen more as a technical correction, has already come in and now the stock is ruling at Rs 480."
He further added, "These companies are likely to post good numbers in maybe September as well as December quarter. So on a fundamental basis, one can look for a price level of about Rs 530 in a month or so, but on technical basis also one can look for a price of about Rs 510 in this series."
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