close below 233 would be a confirmation for selling pressure, one can sell below 235 with sl 238 or else breakout abv 250 with sl 244 cld be a good pick !
Happy Trading !!
for educational purpose
berger paint is at the verge of breakout. if it closes one more day above 228 with good volume then an upmove will start which will lead it's price to 260-265. but whole market is waiting for a correction then wait for sl 223. If it goes below 220 then a swift downtrend will start upto 185-182.
FOR EDUCATIONAL PURPOSE
BERGER PAINTS IS ACCUMULATING A FORCE IN A ASCENDING TRIANGLE BUT TO BREAKOUT IT HAS CLOSE ABOVE 230 WITH A BIG VOLUME IS REQUIRED. AFTER THAT GO LONG WITH SL OF 221. IF CLOSES BELOW 215 THAN GO SHORT WITH SL OF 225.
This is an interesting chart that I am tracking. Price has bounced off the lower parallel of the blue fork. Price is also on the verge of breaking out above the 200-DMA. A crossover above the 200-DMA will make me interested in this stock.
NSE:BERGEPAINT
From around 10 in 2008,
the stock has shown a very steady trendline to around 260 in 2016;
returning 2500% in 8 years.
Now we see, that the stock is falling below such a significant trendline.
Long-term investors can look to enter the stock at ;
1. when the monthly closing is above the trendline.
2. if at all, it reaches the blue line, it...
