Berger
BERGER PAINT MAY SHOW SOME CORRECTION BEFORE GOING UPWARDBerger paint made a bearish engulphing at its resistance, below PDL (574)sell can be initiated for the first target of 568 (trendline support). If this trendline breaks 550 can be seen in coming session. SLto be maintain at 583, keep trailing your SL if trade goes in your direction.
Pair - Asian Paints, Berger PaintsThe pair ratio was consolidating for 3 years (Nov'16 - Oct'19) in the range of 3.899 - 5.030
It broke down in Oct'19.
161.8% retracement of the above consolidation was at 3.201. The ratio made failed attempts to breakdown below this level, only to revert back to 3.899.
The ratio has again reached (almost) the same retracement level of 3.201, with RSI making higher lows.
As long as the ratio is above 3.201, it would attempt to move up to 3.630, 3.899
My PredictiveEngine's Intraday call(01-Jun-18)-BERGERPAINT-ShortBased on my PredictiveSystem's signals, its going to be a RED candle on 01-Jun-2018 for BERGERPAINT
Sell Below: 297.5 for targets -
T1: 295.3
T2: 293.9
T3: 292.5
SL: 299.9
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and please do your own research before attempting any. The profit/loss made by you due to this call, is solely your own responsibility. Thanks, All the best. Happy Trading. :-)