Technical Pick – Berger paint
•Berger paint is finding support at 256 and resistance above 262.
•On Daily chart, Berger paintis showing trigle breakout point above 262 level.Break and sustain above 262 will see nonstop rally till 268--275++ in weeks to come.
•Berger paint has been trading in a broader range of 178--277 for last one year.
•MACD showing positive momentum which indicates that upside side seems certain in it.
•Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 268--275+++mark in coming weeks.
For positional trade, stop loss seeing below 256 on closing basis which in unlikely to breach in near terms.
Trading Recommendation
Buy Berger paint above 262 and for the initial upside target of 268--275++ mark with stop loss below 256 on closing basis.
More will update soon!!
