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    Momentumisers: Asian Paints in focus; What next for paint major's stock?

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    Momentumisers: Asian Paints in focus; What next for paint major's stock?

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    Asian Paints share price is down nearly 25 percent from its all-time high as a surge in Brent crude prices raise concerns. Global brokerage Macquarie too removed it from its buy list, lowering target price

    On Friday, Asian Paints was down 4.5 percent. Last week the stock corrected by almost 12 percent. From its all-time high, now it is down almost 25 percent. The stock is below its 20-day moving average (DMA), 50-DMA, 100-DMA and 200-DMA, so technically speaking, it has moved fairly lower with downside momentum.
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    Today, brent is at the highest level that market has seen in the last 13 years at around USD 130 per barrel. Macquarie has removed the stock from its marquee buy list cutting the target price from 4,200 to around Rs 3,800.
    Watch the accompanying video of CNBC-TV18’s Mangalam Maloo for more details.
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