Asian Paints Limited
Recommendation: Buy
Last Close: 2,422.70
Initiation range: 2,410-2,420
Target: 2,530
Stop loss: 2,360
Asian Paints has been seeing correction for the last two months, after making a new record high at 2873.45 levels. It has formed a base around the support zone of the medium-term moving average(100 EMA) on the daily chart and likely to see a rebound now. We thus advise creating fresh longs in the mentioned zone.
Infosys Limited
Recommendation: Buy
Last Close: 1,345.55
Initiation range: 1,330-1,340
Target: 1,410
Stop loss: 1,300
Most IT stocks are holding strong despite the recent volatility in the market