BERGER PAINTS after a mammoth move, is finally showing weakness.
formed a bearish harami..
like Asian paints this is also showing clear negative divergence... quadruple divergence on daily charts
futures is at a discount to cash price, so trade accordingly for the shorts
short with the SL 520, targets 475 to start. might get a deeper correction to 450 440 down the line.
note: results on 5th novemeber. might get stopped out if it is announced during market hours. trade accordingly
formed a bearish harami..
like Asian paints this is also showing clear negative divergence... quadruple divergence on daily charts
futures is at a discount to cash price, so trade accordingly for the shorts
short with the SL 520, targets 475 to start. might get a deeper correction to 450 440 down the line.
note: results on 5th novemeber. might get stopped out if it is announced during market hours. trade accordingly
Comment:
slow grind happening downwards