Asian Paints - Bullish Signals

Asian Paints - Bullish Signals

Fundamentals
MCAP- 303418Cr
PE - 60 > Induustry PE of 53
PEG Ratio is 2.91
Debt to Equity is 0.13 and ICR is 33
ROE is 31%, ROCE is 37% ( 5yr ROCE is 33%)
Sales growth is 1%(stagnant), 5yr Sales growth is 13%
Profit Growth is 9%, 5yr Profit growth is 20%
Promoter holding is rock solid , 52-53%
Latest results - Slightly below estimates

Technicals
CMP - 3170
Bullish - Above EMA 9, 21,63, 200
EMA 63 is just below EMA 200. Expect it to crossover soon.

As seen in charts 3550-3600 is acting as resistance and the stock has failed to cross this level 3 times so far.
2700 is major support. It has bounced back from this level 3-4 times in the last 2 years.
Stock is trading in the range of 2700-3600. With EMA 63 poised to cross EMA 200, I expect the stock to touch 3550 levels in the next few months.

Target :
T1, As per Technicals = 3550
T2 = 4500, If 3600 is breached

Disclosure 1 - Invested
Disclosure 2 - Not SEBI Registered
Disclosure 3 - This is Not investment advice. Treat it as educational