BERGER PAINTS
- As per previous report published on BERGER PAINTS stock made a bullish breakout @ 310 and made a high @ 327.50 but after that stock came down but later it touched its resistance @ 337 as mention in previous report. (Click here to see previous report published by on BERGER PAINTS).
- Now daily chart indicates that stock is trading above its resistance @ 161.8% fibonacci retracement as shown in chart no1. As long as stock holds above its resistance zone it will be favored by bulls, close watch stock made a recent high @ 348, if closes above 348 and holds above then further strength is expeting in Berger Paints.
- Intraday Trading Calls , close watch once stock starts trading above 348 during market hours , if holds above then intraday bulls action is expecting.
- As per graph no2 stock is moving up 20 days moving average , as long as stock holds above it will favor bulls, by closely looking at Graph no 1 it indicates that from last 6 times stock took its 20 DMA support and bounced back. 20 DMA is paying an important role in Berger Paints, this can not be ignored.
- Suggested Reading - APOLLO TYRES facing strong trend line support at current levels, weakness expecting once closes below its support zone.
- As per graph no3 if stock moves up from current levels then will find next strong resistance around 373 its 261.8% fibonacci retracement. Close Watch.
- Click here to see all the free trading reports (tips) published by us on BERGER PAINTS (as per technical analysis point of view).
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