Asian Paints Limited Stock Forecast
Asian Paints Limited stock price down 0.146% on Friday
(Updated on May 31, 2024)
The Asian Paints Limited stock price fell by -0.146% on the last day (Friday, 31st May 2024) from ₹2,881.90 to ₹2,877.70. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.70% from a day low at ₹2,856.20 to a day high of ₹2,904.75. The price has fallen in 6 of the last 10 days but is still up by 2.25% over the past 2 weeks. Volume has increased on the last day by 23 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 54 thousand shares were bought and sold for approximately ₹156.20 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Asian Paints Limited stock with a 90% probability to be traded between ₹2,738.24 and ₹3,005.14 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASIANPAINT.BO Signals & Forecast
The Asian Paints Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹2,888.65. On a fall, the stock will find some support from the long-term average at approximately ₹2,861.44. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -1.13%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Asian Paints Limited stock
Asian Paints Limited finds support from accumulated volume at ₹2,815.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹48.55 (1.70%) between high and low. For the last week, the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: ₹2,796.19 (-2.83%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (ASIANPAINT.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Asian Paints Limited to open at ₹2,879.55, and during the day (based on 14 day Average True Range), to move between ₹2,821.16 and ₹2,934.24, which gives a possible trading interval of +/-₹56.54 (+/-1.96%) up or down from last closing price. If Asian Paints Limited takes out the full calculated possible swing range there will be an estimated 3.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹2,878.90 (0.04%) than the support at ₹2,815.25 (2.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Asian Paints Limited stock A Buy?
Asian Paints Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.554 Hold/Accumulate Unchanged
Predicted Opening Price for Asian Paints Limited of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
₹2,879.55 ( 0.0643%) | ₹2,877.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASIANPAINT.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,928.10 | 1.75 % | |
R2 | 2,909.55 | 1.11 % | ||
R1 | 2,898.10 | 0.709 % | ||
Current price: | 2,877.70 | |||
Support | S1 | 2,861.00 | -0.580 % | |
S2 | 2,849.55 | -0.98 % | ||
S3 | 2,831.00 | -1.62 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,973.80 | 3.34 % | |
R2 | 2,919.20 | 1.44 % | ||
R1 | 2,878.90 | 0.0417 % | ||
Current price | 2,877.70 | |||
Support | S1 | 2,815.25 | -2.17% | |
S2 | 2,772.80 | -3.65% | ||
S3 | 2,711.00 | -5.79% |
ASIANPAINT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 11, 2024 | Jun 11, 2024 | Jul 25, 2024 | ₹28.15 | 0.98% |
2 | Nov 03, 2023 | Nov 03, 2023 | Nov 25, 2023 | ₹5.15 | 0.164% |
3 | Jun 09, 2023 | Jun 09, 2023 | Jul 27, 2023 | ₹21.25 | 0.630% |
4 | Oct 31, 2017 | Oct 31, 2017 | Nov 03, 2017 | ₹2.65 | 0.226% |
5 | Jun 15, 2017 | Jun 15, 2017 | Jul 27, 2017 | ₹7.65 | 0.666% |
FAQ
Click here for our free guide on how to buy Asian Paints Limited Stock.