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The stock of Berger Paints India has been on a rally since the beginning of June. It found support at ₹450 on the back of which it started to rally. It has been making higher since then and early this week, the stock moved above the 200-day moving average, a bullish sign.
Although the price saw a minor decline in the last two sessions, the uptrend remains intact. We expect the stock to resume the rally and appreciate to ₹575 in the short-term. Therefore, participants can buy the stock of Berger Paints India now at ₹552 and accumulate if the price dips to ₹540. Place stop-loss at ₹530. When the stock rises to ₹565, tighten the stop-loss to ₹555. Liquidate the longs at ₹575.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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