Long

Berger paint stock to test the retest or retracement

Updated

We have seen the chart of berger paint has clearly given the good Bo above the 550 level & closing of the stock is also above the same. Now at this point every one saying stock is bullish & must buying candidate for upcoming session. but as per technical analysis & considering various indicators tools we will not chase the stock to buy this higher price. Also buying at this level increase our risk as compare to reward. if you watch the 15 minutes time frame a lot of indecisive candles has been seen. Hence expecting the stock to take retest between the area of 535-540. Buying level of the stock between 535-540 for the next target level of 575 with the SL of 525. lets see how market & stock behave in next session. please add the stock in your watch list to see the price action movement of the stock. kindly consider always high probability trades.

Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask.

Watch the free trading ideas performance sheet for the month of July-2020

drive.google.com/file/d/1_PKz2Sq...

Note

Berger paint at day's low @ level 547

Note

Low 545

Note

Can take long above 552.5 after the BO Else wait for lower level

Trade active

Note

High 557

Note

High 560

Note

Again buying opportunity as expected today as per support level. Those missed can buy this level.

Note

BERGER AT THE PEAK LEVEL 567

Tech_stock_trader

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.