Berger paints Reverse H&S patternBerger paints has formed Reverse head and shoulder pattern on Hourly chart. above 590 it will give huge breakout with upside target of 30-40 points.
BERGEPAINT trade ideas
BERGEPAINT is Making Symmetrical Triangle Pattern (Breakout)Berger Paints India Limited : Paint Company ( NSE:BERGEPAINT ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE).
This can become a very good trade for INTRADAY traders.
Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern.
And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High.
Target and StopLoss are never already fixed in the chart pattern.
Thank you.
You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit.
Chart Published By Ravinder Sharma
Ascending Triangle PatternThe stock is making an ascending triangle pattern and is all set to test it's ATH at 597. Once it breaches it's resistance of 584 one can go long for 1-2% targets in intraday.
Text Book Example of Ending diagonal Unfolding How interesting it is , when we see the patterns repeat them self , Majority of people want to trade these patterns but they dont know
how to identify it in timely manner for trading opportunity
Many try to find the text book example , well i can say that its heard task then trading it self , forecasting & taking trade based on pattern can come
only when some one practice it on daily basis, Many so called Mentor ( At least One Tweeter aunty 75 K followers) does not even know exactly how many patterns
really exist in the market ?
Today i will revel the facts ,
there are only 3 impulse patterns which will repeat them self during impulse wave formation ( One of the most easiest part) they repeat in a such a manner even on 5 mints
charting we can identify weather developing trend is impulse ( both on Higher time frame and current ) , we always pick the bottom due to identifying them in early stage
there are only 7 corrective patterns including variations , they repeat in such a manner we can identify them even on 5 mints and we take decision during early
development of these patterns , We sell Options , We trade Futures at very early stage when it is forming top or bottom
Tats all , all you have to do is identify these patterns and trade very easy job on this earth ,
This scrip is about to end its move on all time frame basis , that means once it completes its move up for another few % its due for multi time frame correction
buying is not a good idea , wait for this move to complete ,
Good luck
Berger Paints Ready to Give Break OutBerger 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
