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 !!
Its interesting Price action in Burger Paint , the stock is still strong , and also you can see the formation of base for Next rally is being done
One has to look for Small correction before the Next rally take place
Regards
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.
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.
The informational and educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced by me. The information provided through my charts are for personal, non-commercial, educational use and display.
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...
as we can see that there is bearish engulfing pattern and the stock price below 8 ema and the bearish divergence add to it and stochastic in overbought condition
