Stop Loss: Rs 2,810
Target: Rs 3,253
ASIANPAINT has broken out of its consolidation zone on the daily chart with volume significantly above the 20-day average, signalling renewed bullish strength. The stock closed with a strong bullish candlestick, reflecting robust accumulation. It continues to trade well above its 20, 50, 100, and 200-day EMAs, reaffirming the dominance of the prevailing uptrend. The RSI, currently at 78.87 and rising, indicates powerful bullish momentum, suggesting strong potential for further upside in the near term.
(Kunal Kamble, Sr. Technical Research Analyst, Bonanza Portfolio)
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