Technical Analysis of Asian Paints.
On the monthly chart,
The scrip has opened and finally closed almost on the same levels with high and low forming a double bottom also on the same levels. If we draw Fibo from swing low to swing high and horizontal line representing the strong support zone, we can clearly see the levels of 1090 giving a strong support zone. The scrip is currently trading at the levels of 1165 above the high of March 2018.
With overall bullish trend along with indicators pointing upside, the scrip is expected to touch the levels of 1208-1245.
Outlook: Bullish | CMP: 1165 | Expected Levels: 1208-1223-1245-1270