Does simple things work in technical analysis. Plain weekly trendline working 4 times earlier will it still work the same this time? Only time can tell. But this can be low risk entry area.
NSE:BERGEPAINT showing bullish uptrend.
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be...
NSE:BERGEPAINT
Observations:
1) On Daily Time frame, it has been taking suspport from 100DMA and broke 50DMA with good bullish candle and good volume on 24-09-2021.
Major resistance is at 840 level. If it holds to stay above it then it will be bullish for short-mid term.
Please refer below chart : Daily time frame.
2) On 30min time frame, it has...
Berger paints make bullish crossover with make bullish momentum in resistance zone. this is strong resistance zone with never break since 20 March 2020. it can be buy with sl of 777, target is 875, 947 and 996
A festive season is around the corner and people start to renovate their infrastructure (homes, factories, offices, etc.) and I'm eyeing Asian paints and Berger to capitalize on this consumtion.
Stock price can be seen respecting the trend line support and a good bounce from the support level.
810&775 can be considered as a support for the price momentum.
CMP: 840
The stock has been rejected multiple times from 850.
Same happened today.
Some consolidation or a down move is expected in this stock.
If it manages to hold the support levels 795 and 773, it can make new ATH and we may see higher levels.
Expectation: 891, 933
#BERGERPAINT -
Entry on Retest of 800
Target 860
Stoploss 775 ( weekly close)
Risk / Reward - 1 : 2.2
Retest highly likely considering Daily RSI at 45 and generally bottoms out at 30.
Since mid-May 2021, stock has not had a daily close below 785 with buying emerging at those levels, and expect the same to continue
Berger Paints India Ltd - 09.09.2021
The stock has been respecting it's resistance @ 842
There is a Hammer in Daily Chart
Prices are above ema
let the hammer high be taken off and prices sustain above 842
one can initiate a long position above 842 with support @ 824
watch out for the price action
NSE:BERGEPAINT
Observations:
1)On 1hr Time frame It gave breakout of rounding bottom pattern. Critical support level is 825. For the good upmove it has to give breakout of 840 level.
Please refer below chart : 1 hr time frame.
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For POSITIONAL long trade one can take long position from CMP as far as it is...
1. NSE:BERGEPAINT is in a falling channel on Daily Time Frame
2. Double Top formation on 30 Min Timeframe with 811 as neckline
3. 820CE has the highest OI and change in OI
4. Currently stock is near supply zone
5. The rise in price yesterday was just a short covering as per order flow analysis
6. RSI Bearish Hidden Divergence on Daily Timeframe
Initiate a sell...
