ASIAN PAINTS INTRADAY ANALYSIS

Asian paints have been range bound and today it gave a huge breakout and broke 2 minor resistance levels. Despite the overall market was in a bearish momentum the stock showed good strength. A buy can be initiated as there is a closing above 3600 levels in 5 or 15 min charts. Caution should be exercised as a profit booking might occur, in such a case avoid going short.