Asian Paints- Good time to entry

10 thg 3

Stock has nearly hit its 52 week low and has bounced back . also retesting is seen as done on daily chart. there is an immediate resistance at 2900 levels which is also 20 EMA. the stock is cyclic in nature and has seen rallies in April - May thru to Sep-Oct, when the demand for paint picks up.

My idea will be to enter above 20 EMA on day closure basis with 50 point SL.

This is purely my outlook and not an invite to trade the stock. Please do your own due diligence before investing