Will Asian Paint break down Now?

Asian paints despite being leader in the segment has a higher PE valuation and the rising crude prices is acting as a spanner in its upward trajectory.

It is important to understand that paint industry is affected to a great extent by the crude price because crude is a major component of the paint industry.

Moreover it has been observed that it has broken the head and Shoulder pattern and thus unless it crosses above 3300 level you should not go into buying mode considering it as a value buy.

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