BERGER PAINTS Pullback BreakoutBERGEPAINT showing a clear pullback move on daily timeframe candle.
Preceding impulsive red candle with a large range followed by a small ranged green candle, hence trade the breakout of the pullback green candle in either direction.
Long above 498.40
Short below 488.90
Target 1% in either direction.
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
BERGEPAINT
BERGEPAINT Pullback BreakoutBERGEPAINT showing clear pullback move on daily timeframe candle.
Preceding impulsive red candle with a large range followed by a small ranged green candle, hence trade the breakout of the pullback green candle in either direction.
Target 1% in either direction.
NOTE: Trade with confirmation of momentum & volume on lower timeframes in intraday.
The chances of come into profit is more.The last pin bar is showing price rejection.
Rejection zones are areas where there is no equilibrium in price. The asset is either over or under valuating, meaning that the market might be oversold or overbought. It's important to spot these rejection zones to know when to avoid a trade and where the key pullbacks are.
Maintain stop loss
Berger Paints: Wonderful Consolidation & BreakoutThe stock has been consolidating for several months now In the weekly chart. A breakout has happened this week and am watching this stock closely for sustenance of this breakout. The price action suggests that a major round of accumulation is over in this stock and it is primed to get into a trending phase.