Simple Price Action - Trend line breakout
So, get ready for booking profits as this short trade is superbly set and is supported by RBI's bubble in equity market news
- $ASIANPAINT shown a good breakout with volumes at 2880 levels - Many paint stocks have gained momentum - Breakout of a rounding bottom pattern - Entry levels can be made afte a retest to 2880-2900 with a stoploss of 2730 - May show some bullish behaviour initially but may lose some momentum afterwards * Only for educational purposes
Berger Paints Quarter results will be out tomorrow. Like Asian Paints, I am expecting good results. If it goes right, we might see the share going upside of 900, otherwise it might settle for 730 range. RSI is overbought now, so I am expecting a little dip before the rally.
Look at every minute detail marked in the chart. If BERGEPAINT starts trading above 727.25 then we can have our targets as the green lines 733, 742 and 753. If it breaks the resistance of 770.15 then we can soon see a new lifetime high. If we still see consolidation then the stock can be seen trading within the end of triangle. A Bearish moves is very unlikely...
Berger Paint - Cmp 752.75 Triangular breakout candidate with good volumes. Looks good for long position. Possible targets of 773/820 and support levels are marked on the chart.
The chart is self-descriptive. Please share your views and observations. Thanks
BERGERPAINT Buy -Above 775 SL- 750 Target- 800 825 850 875 900 Always use alerts for trading. Note:- I am not SEBI registered . All Views and trade setups are my personal view and my personal trade setup. Do follow us Like Us Share with fellow traders Also check the below related ideas for other stocks.
A Symmetrical triangle is a clear cut indication of consolidation followed by a breakout. Note: Avoid the stock if a big gap up or gap down is seen Enter after the breakout happens and not before it Do not chase the market, i.e., do not get involved in late entries Only enter with strict stop-loss and target This is not a recommendation and is for...
The silent stock from paint industry i.e. Berger paints is almost ready to boost like a rocket. It has formed an triangle chart on daily time frame and just check the volume on 14-05-2021. A potential big move can be seen and target is clearly marked on the chart with purple rectangle for further reference.
Bergerpaint is the second best paint company to invest after asian paints. It has a strong fundamentals and poised for more growth in future.
Berger Paints is making a symmetrical triangle pattern and chances of making an upside move is more likely as the market is totally bullish. Buy above 722 with the target of upper trendline.