Berger Paints India Ltd

NSE :BERGEPAINT   BSE :509480  Sector : Paints/Varnish

Share prices of Berger Paints have seen profit booking post Q4 2021 Results announced yesterday. Stock fell 4% on account of muted results announced. Brokerages maintained under-performed rating on the stock. Macquarie has maintained an under-perform call on the stock with a target at Rs 600 per share.

What’s Ahead? Technical outlook of BERGER PAINTS:

Berger Paints (India) Limited stock is trading in an upward sloping channel pattern. Stock yesterday touched 52 week highs and today has seen sharp sell off. Channel Resistance lies at 842 and fresh rally in the stock will be seen only if stock breaches 842 with volumes. Levels of 842- 845 will act as strong resistance for the stock.

Trend for the stock may turn bearish once breaches 785. Further selling pressure may be seen in the stock. Fresh short position in the stock can be initiated with a stop loss of 845 and targets of 700 in the next few trading sessions. Investors should book profit in the stock buy once correction is done. Strong support of the stock lies at 700 level.

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool