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. I am starting a new telegram channel. To join my telegram channel, leave a comment with "interested." NSE:BERGEPAINT
NSE:BERGEPAINT
current market price 637 stoploss 588 target 783
NSE:BERGEPAINT
Price - 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...
trade based on 1. price action 2. rsi 3. breakout
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.
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 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)
NSE: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.) Keep Your Eyes On Index Give Me A Thumbs Up...👍 😜Follow For More ✔ --Any Suggestions--
Berger paint made a bearish engulphing at its resistance, below PDL (574)sell can be initiated for the first target of 568 (trendline support). If this trendline breaks 550 can be seen in coming session. SLto be maintain at 583, keep trailing your SL if trade goes in your direction.
Bullish Bias Adhering the Trendline Can be bought at CMP levels Stop Loss near 548/549 Target of 597/598 If broken then 650 easily
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