Asian Paints - Market leaders are always resilient - The process used to pick this trade explained

 Asian Paints (CMP - 3576.3) recently made an all time high at 3582 on 7th Jan 2022. The stock underwent a near 20 % correction between Sep -Oct 2021 after posting sub optimal results for the September Quarter. The initial signs of the stock turning the corner post this correction was evident to me upon the distribution pattern (marked on the chart) getting negated. Such busted patterns always result in sharp price moves in the opposite direction. 

Observe the two upside counts generated in Asian Paints in the recent price action for 3818 and 3869

The near term resistances from the rising trendline also more or less coincides with the point and figure upside counts.

Added Longs on 28th Dec 2021 at 3359 with a stop loss at 3010 for upside targets of 3819/3869.