Berger Paints is trading in strong uptrend in Monthly and Weekly Time Frames
It has already been bounced from Major Support Level and 20 Days Moving Average. RSI also took support at 60 Level.
Today it broke the Previous Swing High of 581.95 and made the intraday high of 583.10. Now if it breaks the level of 584 then strong upside rally is expected to be seen
Berger paint broke the triangle on friday and corrected itself today. now can easily go long with stop loss. trade wisely on your risk.
Disclaimer: For educational purpose.
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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...
Berger Paints had power move last day but ended at a consolidation between 554-558
you can expect a retrace back to the line. Also look into my analysis on asian paints and follow both stocks to know the clear trend paint industry is going to.
Beware : Please keep in mind and stay away from False Movements
Also this is not any recommendation, This is only for...