Bergerpaints
Stock Analysis of Berger PaintPrice -647.75 Dt. - 27-11-2020
The stock is moving in a range from May. In the last trading session, the stock took support at 21DEMA and the support line which is placed at ₹638.65. If the stock opens in green then it can go up to the price level of ₹669.85.
Price bounce back after touching the 21DEMA line and occasionally the price breaks the 21DEMA line and goes till 50DEMA.
Buy - ₹648.5 and SL - 638.65 Target - ₹669.85.
Berger Paint - Hammer at 21 EMANote: This is for educational purpose only.
There seems to be a bullish hammer formation at 21 EMA which has acted as dynamic support in the past. Moreover, this hammer seems to have formed at previous resistance turned support. This increases the confluence.
Breakdown of Consolidation Zone in BERGEPAINTAfter consolidation in range in today's session, BERGEPAINT shows the breakdown of its support line. Possible downside minimum target according to chart pattern is 620.
BERGER has given a clear breakout from resistance levelsBerger is on clear breakout and traversing in uncharted territory . One can consider buy on this scrip with target of 663 . Once 663 level is crossed then next target would be 790 and trail the stop loss to 663.
Berger Paints is at support Berger paints is at support and it did not break the trend line and there was no selling pressure either as indicated by below average volumes. Good point to initiate longs.
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NSE:BERGEPAINT
Stock Analysis of Berger PaintsPrice - 628.40 Dt. - 03-11-2020
On a daily chart, the stock is moving in a range. Price bounce back after touching the 21DEMA line and occasionally the price breaks the 21DEMA line and goes till 50DEMA. It looks like the price can come up to 21DEMA or if there will be selling pressure than the price takes the support of the 50DEMA or the below trendline. RSI is near the overbought zone.
Berger Paints - Bullish Engulfing Note: This is for educational purpose only.
There seems to be a bullish engulfing on 21 EMA. 21 EMA has been acting as a dynamic support in the past. Moreover, 21 EMA is above 55 EMA which acts as a short term uptrend. RSI above 65 indicates bullish momentum.
Bergepaint Long!!!!BO above Supply Zone 580-602
if Closing Abpve 602 then good upmove may seen
Demand Zone 550-520
HH,HL formationn on daily chart
Fibo 0.618 level is 520
BERGER PAINT BREAKOUT WITH GOOD VOLUMEBERGER PAINT gave breakout in PDS with good volume.
- Buy can be initiaited if high breaks(610) Target 635
- Best buy if retraces to breakout level (600)
- SL to maintained below 600 like 595, 590 according to your risk appetite
On contrary side
Shorts can be initiated only when 585 breaks (on swing basis)
BERGER PAINTNSE:BERGEPAINT | (Positional Trade)
Entry:- 600+ (Candle Close)
Stop Loss :- 560 or (According To You)
Target:- I Don't Know Because It is Breaking Above All Time High's.
(Risk Must Be Managed.)
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