The ASIAN PAINT daily chart from the Elliott Wave analysis reflects a bullish trend. The price action is currently in an impulsive phase, signaling robust upward momentum. The prevailing wave structure, designated as Orange Wave 3, is part of a broader wave formation identified as Navy Blue Wave 1. This positioning implies that ASIAN PAINT is in a strong advancing stage within a larger bullish trend.

The analysis indicates that Orange Wave 2 has likely ended its corrective move, paving the way for the development of Orange Wave 3. This particular wave phase often signifies the most vigorous segment in an Elliott Wave cycle, usually producing substantial price increases. The next degree to observe is the progress of Orange Wave 3 within the overall Navy Blue Wave 1 structure.

A critical observation level is the invalidation threshold at 2172. If the price drops below this mark, it would invalidate the current wave analysis, necessitating a reevaluation of the bullish outlook. However, unless this point is breached, the existing wave pattern suggests a continued upward movement.

The current technical configuration points to ASIAN PAINT being positioned for potentially extended gains, with Orange Wave 3 in motion following the completion of Orange Wave 2. The impulsive nature of this phase supports strong buying interest and hints at significant upside potential in upcoming sessions.

ASIAN PAINT Elliott Wave technical analysis – Weekly chart

Function: Bullish Trend.

Mode: Impulsive.

Structure: Navy Blue Wave 1.

Position: Gray Wave 1.

Direction next lower degrees: Navy Blue Wave 2.

Details: Orange Wave 4 appears completed; Navy Blue Wave 1 of 1 is underway.

Wave cancel invalid level: 2172.

The ASIAN PAINT weekly Elliott Wave analysis affirms a bullish trend. The price action is currently in an impulsive mode, showcasing significant upward momentum. The identified wave structure is Navy Blue Wave 1, which is part of a larger wave sequence labeled as Gray Wave 1. This positioning suggests the stock may be in the initial phase of a strong uptrend within a broader bullish structure.

According to the analysis, Orange Wave 4 has likely completed its correction, allowing the beginning of Navy Blue Wave 1 within Gray Wave 1. This wave usually marks the start of a new bullish cycle and often exhibits strong directional movement. The next expected development is Navy Blue Wave 2, which would emerge after Navy Blue Wave 1 completes.

A key level to observe is the wave cancellation point set at 2172. If prices fall below this level, the current Elliott Wave count would be considered invalid, prompting a reassessment of the structure. Until that threshold is crossed, the current wave formation supports a continuation of the upward trajectory.

The existing technical setup implies that ASIAN PAINT is poised for possible long-term gains. The active Navy Blue Wave 1 suggests ongoing institutional buying interest and enhances the potential for sustained upward price action over the coming weeks, all unfolding within the larger Gray Wave 1 framework.

Asian Paint Indian stocks Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD gathers strength above 1.1750 as Fed rate cut prospects pressure US Dollar

The EUR/USD pair trades in positive territory around 1.1775 during the early Asian session on Monday. The prospect of a US Federal Reserve rate cut in 2026 weighs on the US Dollar against the Euro. Markets brace for US President Donald Trump to nominate a Fed chair to replace Jerome Powell, whose term ends in May.

GBP/USD edges lower near 0.7400, eyes Fed rate cut outlook

GBP/USD edges lower after a gap-up open, trading around 0.7410 during the Asian hours on Monday. However, the pair may gain ground as the US Dollar faces challenges, which could be attributed to growing expectations of two more rate cuts by the Federal Reserve in 2026.

Gold retreats from record highs, heads toward $4,550

Gold retreats after setting a new record-high at $4,550 earlier in the Asian session on Monday and eases toward $4,500 as trading volumes thin out ahead of the New Year break. The US Dollar bearish bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Ethereum Annual Price Forecast: ETH poised for growth in 2026 amid regulatory clarity and institutional adoption

Ethereum lost 12% of its value in 2025, declining from $3,336 at the beginning of the year to $2,930 as of the third week of December, a stark contrast from 2024's 48% gain. But that percentage doesn't do justice to the wild year ETH had in 2025.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.