Asian paints posted good set of results amid a slowdown in the economy where it comes out with double digit growth with better than expected EBITDA margin of 21.9%. There is a slight miss on revenue front but profit is in line with expectations. Valuations are on the expensive side but growth prospective is still bright.
Technically 1760-1740 is an immediate support zone and any dip in this zone will be a buying opportunity. In the upside 1835-1860 is a resistance zone; above this we can expect a move towards 1950 level.