Buy Asian Paints; target of Rs 930: Choice Equity

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26 Aug, 2025 12:21

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Choice Equity Broking's report on Asian PaintsAsian Paints Limited is an Indian chemicals company headquartered in Mumbai, India. It manufactures paints for decorative and industrial use. Asian Paints is India's largest paint company and Asia's third largest paint company, with a turnover of Rs 140 billion. Besides Asian Paints, the group operates around the world through its subsidiaries Berger International Limited, Apco Coatings Limited, SCIB Paints and Taubmans. Technical Parameter: XA of the leg from 780 to 884.30, AB of the leg completed at 846.50 (i.e.127.2% of XA leg.), BC of the leg from 892.50, and CD of the leg completed at 811.20 levels (i.e. 78.6% of XA and 161.8% of BC leg) Besides, stock has also managed to close above 200 DEMA (which placed at 816.60 level), which shows that long term trend is up and could further accelerate its upside momentum. On daily chart, stock has formed “Bullish Harami” candlestick near the multiple support line, which is a sign of bullish reversal.A momentum indicator RSI has moved above 40 levels on daily chart, which support our bullish view on the stock. Based on the mentioned technical setup, we believe that the stock could move towards 930 levels in few trading sessions, says Choice Equity research report.For all recommendations, click here 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.

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