Indian stock markets saw a good recovery after a weak start on Monday (September 9). Stocks closed in the green.
Amid a good recovery in the market, there is a movement in select stocks on the technical chart.
A brokerage firm has made Asian Paints Ltd (NSE: ASIANPAINT), a giant company in the paint sector, a technical pick. The brokerage has advised buying Asian Paints Ltd with a 2-3 day perspective.
Indian stock market started with sluggish trading on Monday and finally closed at higher levels. Sensex and Nifty closed with good gains. Nifty Bank also closed with a huge gain.
However, pressure was seen on midcap and smallcap stocks. On Monday there was a good rise in the FMCG index. But the metal, IT, and auto indices fell.
Asian Paints: Good Money Will Be Made In 2-3 Days
The brokerage house has made Asian Paints Ltd a technical pick. There is a positional advice in the stock for the next 2-3 days.
The target price is Rs 3400. On 9 September 2024, the stock closed at Rs 3281. In this manner, the stock can rise 3 to 4 % above its current price.
Asian Paints: Stock Jumped 8% In 1 Month
Asian Paints Ltd had a sluggish start on Monday in the recovery market and the stock recovered in a short time. The stock has jumped 8 percent in the last 1 month.
In the meantime, the stock has also given an average return of 14 % over six months and 12 % in three months. The 1-year return on stocks has been the same.
The 52-week peak of this stock at BSE is 3,422 rupees while the low is 2,671 rupees. The market capitalization that the business has is higher than 3.14 lakh crore rupees.
Quick Fact
| Company name | Asian Paints |
|---|---|
| Industry | Paint Sector |
| Possible Target Price | ₹3400 |
| Current Price | ₹3,275 (as of September 9, 2024) |
| Short-Term Potential Gain | 3-4% |
| 1-Month Return | 8% |
| 3-Month Return | 12% |
| 6-Month Return | 14% |
| 1-Year Return | 14% |
| Market Cap | Above ₹3.14 lakh crore |
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