BERGER PAINT - Double trouble!🎯The chart is pretty self-explanatory as always!
🎯 With Asian paints into valuation trouble and JSW entering the affordable paints domain, Berger paints will too have an impact.
🎯 Although, the price action is worth keeping an eye on.
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BERGEPAINT trade ideas
#BergerPaint BlitzKrieg bluechip pickWith crude oil prices settling down after the crisis of 2022 & rise in private demand the stock has delivered steady rise in QoQ and YoY increments in both revenues and profits. The stock can prove out to be one of the highest beneficiary of peaking interest rates and recent boom observed in the realty sector.
Stock is showing tremendous support near the bottom of the trend channel as shown in the chart and has all potential to become a multibagger.
Berger paints short call PE 350Berger paints touch the ATH and currently these stock move in bearish tone for 2 years.
For option trader open a PE short call till 350rs and book profit acc to small Target support.
For equity traders in this stock you don't buy any stock from now wait for 350 price level or more down.
For more chart analysis comment me in this post.
Berger paints to continue on the red streak!The stock seems to have fallen in an bearish impulsive wave between Sep-Oct 2023.
After this very fall the stock was in a complex triple three correction for almost 3 months.
The impulsive fall has been labeled as wave "A" and the stock has already begun the Wave "B" fall in the month of Jan.2024.
Wave "B" is projected going towards the INR 480 area.
580 will stand as a crucial resistance for the stock on the upside.
berger paints as a beginner in stock market as of my book knowledge it shows swing moment. i am expecting that it would give at least 2 % increase within few candles. because as of my knowledge and sources the 3rd quarter of bergerpaints gives best results . they have taken fair market share in paints from the last quarter. and also it gives good results in final quarter to close the dealer club growths . iam expecting that this year it gives 15% averege growth for their sales.
target : 608/-
Berger Paints Observing previous swings from Oct 23, 2023, attempts are made to breach the resistance, not able to breach strongly but in each attempt new higher high is set in every swing.
Based on past swing reversals, I am expecting a hammer tomorrow and hope we can capture around 7% profit in next week.
Today I have averaged this stock and
I am going to pyramid if a strong candle closes above 610 and opens above 613.
Lets see how it goes.
BERGEPAINT: Breaking the Downward Trend. Short-Term OpportunityGreetings, fellow traders!
Today, let's dive into NSE:BERGEPAINT Here's what's unfolding:
Historical Downward Trend: For the past two and a half years, this stock has been in a downward spiral. But June brought a twist, as it broke its resistance trend line and started an upward journey.
Retesting the Resistance: Now, it's retracing to retest the previously broken resistance level. This can be a pivotal moment for the stock.
Chart Analysis: In the attached thirty-minute chart, we see a promising sign in the form of a gap-up opening (inside the rectangle) on October 31st, indicating renewed momentum.
Bullish Momentum: The 30-minute time frame suggests a bullish momentum is building (inside the circle).
For Derivative Traders: If you're into derivatives, consider the 540CE or 550CE contracts. Morning might be a good time to make your move.
Important Note: This is not an investment recommendation but rather a short-term trading opportunity. As always, manage your risk diligently.
Your Strategy: What's your take on BERGER PAINTS? Are you considering a bullish play, or do you have a different perspective? Share your insights with us!
Stay Informed: Keep following for more trading insights and opportunities.
Until the next post, happy trading!
Best regards,
Alpha Trading Station