You said that there was existing paint and it was peeling.
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The only thing you should use masonry paint on is of course, stone or concrete. You said that there was existing paint and it was peeling. The part upon which the stability of the structure.
If it's an indoor concrete floor or wall that's fine.
It could have been latex or oil. Power wash the surface and apply either elastomeric or acrylic paint. Concrete floors were supported on upright steel girders. The walls of the temples were covered with pictures showing events in the lives of the gods and the kings.
