Buy Asian Paints; target of Rs 4250: Nirmal Bang
According to Nirmal Bang‘s recent research report dated September 13, 2012, traders can buy Asian Paints at current price with a stoploss of Rs 3680 for a target of Rs 4250.
September 14, 2012 / 16:34 IST
According to Nirmal Bang’s recent research report dated September 13, 2012, traders can buy Asian Paints at current price with a stoploss of Rs 3680 for a target of Rs 4250.
"Asian Paints has had a strong run over the past 2 years. After making a high of Rs 4021 on 31 May 2012, the stock has seen some consolidation in the form of a triangle and has given a breakout from this consolidation. The pattern implication suggests a target of Rs 4250. The RSI has been consolidating in the 60 to 40 range in the consolidation phase and that has also broken out above 60 adding bullish evidence to our call.We initiate a buy call on ASIAN PAINTS with a Target of Rs 4250. Traders can keep a stop loss at Rs 3680 on a closing basis," says Nirmal Bang research report.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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