ASIANPAINT
has closed at 561.75. Today it has given a breakout with a strong 3.5 % UP bar.
This breakout is a second attempt since past a month’s time. Though the
intensity of the breakout is the same, today’s breakout seems more convincing
than the previous one. Please refer the chart below to see the breakouts. One
can initiate
a long position in this stock above 566 ( today’s high ) for the
targets of much higher level as this stock is on almost life time high. So
predicting targets is a senseless exercise. One can ride the rally once the trade
is in favor. Stop Loss must be placed at 550 on closing basis. The target
figure lovers can assume and watch for the levels like 580 and 595 on the upper
side.
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