Hi everyone, Berger paints mid term swing trade consider buy above: 768, target: 835, stoploss: 752.
LOGIC BEHIND TRADE: Stock has bounced from it`s daily support & formed (W) pattern and given breakout of it`s resistance & buying on pull back is idea and makes RR good, if sustain above 835 can go upto all time high (targets identified from harmonic xabcd pattern...
Berger Paints Ltd - 31.12.2021
The stock is trading @ 771 levels
There is a Resistance Zone @ 781 levels
There is a SPINNING TOP in daily chart
The prices are above ema
Hammer is taken off by a long white candle in weekly chart
Let the prices go above 783
watch out for the price action
1) On Daily Time frame, it has been taking suspport from 100DMA and broke 50DMA with good bullish candle and good volume on 24-09-2021.
Major resistance is at 840 level. If it holds to stay above it then it will be bullish for short-mid term.
Please refer below chart : Daily time frame. ...