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Daily Charts: Asian Paints, Nippon Life and Avanti Feeds

This is a call for all the investors, we have a list of stocks that are in their deciding zones, after which they can see a strong upward or downward movement.


Asian Paints

Asian Paints, a very popular name in the manufacturing and distribution industry for paints and coating products recently made in the news when the company raised the salaries of its employees amidst the ongoing crisis to boost their morale. While speculations are that the current crisis may hit the real estate sector hard, taking such a step by a paint company was a shocker for all. Hence, we decided to analyze its chart to see how the market reacted and what the future holds for the company.


Daily Chart



The daily chart of the company indicates that the stock is in its deciding zone, i.e. between Rs 1490 and 1510. The company may give a good buying signal, however, we will have to wait for a reversal confirmation. Such a confirmation is necessary as the 50-day Exponential moving average line (orange) is intersecting the 200-day Exponential moving average line (blue) indicating an expected downfall. If these levels are breached then the stock price may fall by 100-150 points.


Nippon Life


Reliance Nippon Life is a life insurance company owned by Anil Ambani's Reliance Capital









Daily Chart



This chart beautifully shows us a cup handle chart pattern (which will be explained in future blogs). This indicates a support zone of Rs 200-210, and if breached we can see prices as low as 170-180. However, on witnessing strong reversal confirmation it would be a good buy signal promising handsome returns.


Avanti Feeds


Avanti Feeds is in the pisciculture industry producing and processing shrimp and fish feeds. While the Atmanirbhar Bharat Package provided Rs 20,000 crores to fisheries, it certainly sounds like good news for Avanti Feeds. Before we jump down to analyzing the chart, it is in our opinion that this stock is in our personal recommendation list, and looking at its technicals as well as fundamentals it has capabilities to provide handsome returns in the future. This is because Avanti Feeds is the highest contributor in the Pisciculture Industry of India. It's just a matter of time when the crisis ends and the exports of the company begin again. Here is its daily chart which shows what you can expect soon.


Daily Chart




While the stock can be bought at Rs 407, but according to the chart, it can be concluded that if the stock breaches the level of Rs 380-375, then we may even see a price of Rs 340. Hence, we recommend that the stock can be bought in a staggered manner (in lots to minimize losses).


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