We keep tracking of the stocks which have given breakout from their support and one stock which fits in the category is Bergepaints which has given a fantastic return in a very short span of time post its breakout in the month of Aug 2019.
So all those with a long term perspective can enter the stock with a deep stop loss of Rs 330. Factors in its favour are Positive volume balance and RSI is above 70 and thus further increase is indicated.
A word of caution is that a high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards and thus any stock to be traded in stock market has to be done with a strict stop loss.
The stock is overall assessed as technically positive for the medium to long term. Have a look at the stock chart now and if you wanna avoid such fantastic delivery calls, you can check our short term stocks or best stock tip for intraday trading as our clients are in the stock before the whole world gets to know about it. As a disclosure, our clients are long in the stock for quite some time and are raking good profit and we have advised them to continue to hold the stock.
Berge Paints Stock Tip
As we can see in the chart that Berger Paints (I) Limited has broken the rising trend up in the medium long term, which indicates an even stronger rising rate. There is no resistance in the price chart and further rise is indicated.So all those with a long term perspective can enter the stock with a deep stop loss of Rs 330. Factors in its favour are Positive volume balance and RSI is above 70 and thus further increase is indicated.
A word of caution is that a high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards and thus any stock to be traded in stock market has to be done with a strict stop loss.
The stock is overall assessed as technically positive for the medium to long term. Have a look at the stock chart now and if you wanna avoid such fantastic delivery calls, you can check our short term stocks or best stock tip for intraday trading as our clients are in the stock before the whole world gets to know about it. As a disclosure, our clients are long in the stock for quite some time and are raking good profit and we have advised them to continue to hold the stock.
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