Beautiful ROUNDING BOTTOMThere is a beautiful ROUNDING BOTTOM formation on BERGER PAINTS on daily chart. Waiting for the breakout.
BERGEPAINT trade ideas
Beautiful short trading position can be noticedSo, get ready for booking profits as this short trade is superbly set and is supported by RBI's bubble in equity market news
A MUST WATCH..BERGERPAINTTHE RESULT PUBLISHED ON 26 MAY 2021 AND SEE THE PRICE MOVED ON 27 MAY 2021
Berger Paints India Ltd reported a 101% YoY increase in consolidated net profit to Rs 208.60 crore for the quarter ended March (Q4).
RSI BEARISH DIVERGENCE GIVES THE SHORT OPPORTUNITY
Entry For Those Who Missed The RALLY !Traders, I posted about the sleeping giant before at around 752 and stock has given 12% return after that. Now stock is giving one more chance for those who missed the rally, after the breakout from double bottom pattern it is now retesting. This can be good risk:reward trade considering big targets and so small Stop Loss.
Buy burger paint with SL 727 for target of 810/848Buy burger paint with SL 727 for target of 810/848
My observations:
1. Bottom cup and saucer pattern
2.Double bottom formation on RSI
3.Increase in OI with increase in price
BERGER PAINTS - Inverted Head and ShoulderNice breakout from an inverted head and shoulder pattern formed for over 4 motnhs
uncharted back agaINi fail to understand how come this is just rising and rising..
nonethe less, good for short tern longs ..
lets see
cmp 832
BERGER PAINT - Wednesday Trade | 26th MayStock has been moving up in last few sessions with good volumes.
Now it has hit its ATH resistance zone.
Good if sustains above 827 for few minutes.
SWING - Let the daily candle close above resistance zone for targets of 840-850
POTENTIAL BREAKOUT - BERGER PAINTSBerger 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.
BERGEPAINT is BullishChart has formed “Inverted Head & Shoulder Pattern” in day time frame. Initiate fresh buying only above 825. It can come to retest the neckline target for down side is 770. If it breaks 825 level and sustain at least 15 minutes. Target will be all four green line.
This is analysis for educational purpose, please trade at your own risk.
BERGER PAINTSLook 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 to happen here but even if it does then a strong support is there at 706 and 697.
Below 697 the stock can move further down.
You can always do back testings on Day/Week/5min charts as per your experience and track the Bank results to have a stronger view before taking any trade.
This is just my personal study and analysis. Do not trade on the basis of just my study. Do your own research as well.
Berger PaintsNSE:BERGEPAINT looks like it has Symmetrical Triangle formation. Who are looking for long can watch above 773.
Disclaimer : This chart is for education purpose only not a trade recommendation. I will not be responsible for your losses or profits.
Berger paints ready for upward trend ?Berger paints as on 17/5/21
CONDITION 1
1. Current Trend: Sideways
2. Trading near its resistance level.
3. Tested resistance level many times.
4. Resistance level: Around 770
5. support level: Around 700
6. RSI > 60
7. MACD: Fast length above the small length
8. Volume: Higher volumes past two days
Thought process: If the price in near future breaks resistance level with high volume, a buy trade could be generated.
Target: (5%) Around 808-810
(10%) Around 847-850
Stoploss: Around 735-740
CONDITION 2
If unable to break resistance level and move downwards in near future...
we will initiate a sell trade.
Target: Support level
stop-loss: Resistance level
BergepaintA potential breakout candidate
Keep in radar
Buy small qty at 815
Add more between 823-825
Bullish above 785Bullish above 785
Target 800, 880
SL: 720
Risk is yours and Reward is too yours totally
BERGERPAINTS in 1D time frameBERGERPAINTS in 1D time frame has given a good break out and is continuing the uptrend
BergerPaints - Symmetric Triangle BreakoutBerger Paints :
Above 800 Looks good for a New 52 week high 825
Support at 765
