Berger Paints is trading at a very important level and is trying to break resistance line running since All Time High.
Strictly Based on technicals-
1. Recent Breakout happened at around 550 levels which is acting as a supply zone for the stock for the past few moths.
2. Moving Average of 20,50&200 on daily is right now support for the stock from 510-535 levels.
3. Recent low made by berger and the trend line following it is acting as a support also for the stock.(Green Trend line)
4. Currently 78.60 fib is acting as a resistance, but the stock is trading above that price, So might be a good price to enter at that fib level.
5. Breakout above 570 levels with good volume , we can see a move towards ath very soon and crossing that ath.
Strictly Based on technicals-
1. Recent Breakout happened at around 550 levels which is acting as a supply zone for the stock for the past few moths.
2. Moving Average of 20,50&200 on daily is right now support for the stock from 510-535 levels.
3. Recent low made by berger and the trend line following it is acting as a support also for the stock.(Green Trend line)
4. Currently 78.60 fib is acting as a resistance, but the stock is trading above that price, So might be a good price to enter at that fib level.
5. Breakout above 570 levels with good volume , we can see a move towards ath very soon and crossing that ath.