Comments
The shares of Asian Paints today gained as much as 2.3 per cent to ₹ 1,386.90, its highest since September 3.
The stock breaks above a resistance at ₹ 1,362.74, the 38.2 per cent Fibonacci projection level of the uptrend from Dec. 22, 2016 low to July 25, 2018 high. The breakout suggests that in the near term, stock may rise up to the next resistance at ₹ 1,438.55, the 50 per cent projection level.
Trend intensity (TI) indicator rises to 16, suggests, a new uptrend has started for the stock. The MACD is positive and above its signal line.
The stock is up 17.02 per cent this year, compared with the broader NSE Index's 3.59 per cent gain in the same period
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.