BergerPaints, BreakoutI covered this stock on 12th May. Price has broken out and price is holding above the breakout zone so far. Please note that the stock is in strong bullish market. Chart is also forming an Ascending Triangle pattern which is a bullish assertion. Moreover, it belongs to consumption industry segment which is doing good business. (See Asian Paints). It can fetch good profit in medium to long term scenario. 350 to 400 can be expected in long term.
BERGEPAINT trade ideas
BergerPaints, ResistancePrice hitting the Resistance level repeatedly for more than one-and-half years. This is a very significant 'process' of price discovery for investment. It may take time but once price makes the expected breakout, it will be rewarding the investor handsomely. The stock is in strong bull market. And this process of facing resistance is often an essential part of price move. That is why there is hope for an investor.