Wednesday, 23 November 2016

Berger Paints India Ltd– Downward Sloping Trend Line.

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Berger Paints India Ltd on an intraday 60-minute chart stock price at Rs.199 has given the breakout of downward sloping trend line at Rs,190 level, indicate rally will continue towards 243 level. Likewise, stock price is making higher high and higher low pattern with increase in volumes. We also witnessed stock is forming a rounding pattern, any break above Rs.205 price can touch the previous high swing, which look most likely.

If one were to go by the volume data, a higher upswing is seen on the stock price. Trader or investor can accumulate at Rs.199 for the target of Rs.243 levels, with Rs.177 stop loss on closing basis.


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