Asian Paints: Wait For Dip To ₹2,150 Before Buying, Says SEBI RA Palak Jain

Asian Paints gained post Reliance’s stake sale, but an analyst sees limited upside in the near term.

Asian Paints shares rose 1% on Tuesday after a Reliance Industries-owned subsidiary, Siddhant Commercials, sold 85 lakh shares in an open market block deal.

At the time of writing, Asian Paints shares were trading at ₹2,266.70.

Exchange data showed that ICICI Prudential Mutual Fund acquired the shares at a trade price of ₹2,207 apiece, valuing the transaction at ₹1,875.9 crore.

According to SEBI-registered analyst Palak Jain, the stock has delivered 38% returns over the last five years but is down 23.21% over the past year. 

At the time of analysis, Jain noted the company's market capitalization stood at ₹2.13 trillion.

She shared key statistics, including a 52-week high of ₹3,394.9, a 52-week low of ₹2,124.75, a price-to-earnings ratio of 58.02, and a beta of 0.83.

Jain outlined important technical levels, identifying supports at ₹2,150, ₹2,100, and ₹2,050, and resistance zones at ₹2,300, ₹2,350, and ₹2,400. 

She said buyers may consider entering around the ₹2,150–₹2,100 support area, while sellers may look to book profits if the stock approaches the ₹2,300–₹2,350 resistance range.

On Stocktwits, retail sentiment for Asian Paints was ‘bullish’ amid ‘high’ message volume.

The stock has declined 1.7% so far in 2025.

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