Double bottom pattern Today stock or it call stock of the weak
*Berger paints India Ltd
Fundamental analysis
market cap 68451cr
PE ratio 79.5 this High value compare to 1, 5&10 years, lower compare to 3years PE
PEG ratio >1 to high
ROCE 23.8
ROE20.4
Dedt to equity 0.6
EPS 8.85
Technical analysis
Double bottom formation
Near at resistance level of the double bottom
Current level is main resistance 707and next resistance is 745
Can get 1:1 ratio of risk reward
Take 550 as a stop loss can get 1000+ 1:1.5 ratio risk reward
BERGEPAINT trade ideas
BERGEPAINTNSE:BERGEPAINT
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
BERGERPAINTS TRENDLINE BREAKOUT!!!!The price following descending trendline resistance from a very long time. Whenever the price reaches near the trendline price taking resistance and slopes down. Now finally price breaks the trendline and closes above the trendline with good breakout candle. The level of 550 is strong support for the price . Candle closes above the breakout level of 575 and holding itself at the higher levels. price showing good momentum for swing reversal . After the breakout possible targets are 615--633 & 650.
BERGERPAINTS📊
👉🏻Range + Trendline Breakout
👉🏻Support 572 & 548
👉🏻Add for swing reversal
👉🏻Target possible 615/633/650+
BERGEPAINT : Trading in Channel BERGEPAINT trading in channel and crossed daily Flip resistance and its become now support. there is one more resistance at the moment.
Lets follow price action in 1h chart if it break we can see continue move here.
Levels are marked on chart for intraday. Follow price action and become Price action chart Specialist.
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
I may be 100% wrong as its my personal trade.
First Learn and then remove "L"
#BERGEPAINT #BERGEPAINTlevel #BERGEPAINTSwign #Swing
BERGER PAINTBerger paint is at a very important support zone.
Good to buy this if a reversal is seen from this point.
Trade safe. Manage risk. Be profitable.
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Disclaimer:- This is my view. Please analyze the charts yourself and then decide to take any trades.