Paint giant set to reclaim territory as banking major goes bullish to sideways

Synopsis

The stock price of this company has started rising after consolidating for four months. It has now given a down-sloping trendline-breakout, which can also be considered as a rounding-bottom breakout. The breakout was preceded by a higher low and supported by a rise in volume, which increases the reliability of the breakout.

It is the largest paint manufacturer in India. It is also engaged in the business of manufacturing varnishes, enamels, or lacquers, surfacing preparation, organic composite solvents, and thinners. It operates in 15 countries and has 26 paint manufacturing facilities in the world. Recently it has introduced lightings, furnishings, and furniture, thus adding more products to the Home décor and Interior Design category.100692250 Asian Paints LtdThe

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