Chart Check: Berger Paints gives breakout from falling trendline; what should traders do?
Berger Paints has broken out from a falling trendline on weekly charts, suggesting room for the stock to retest levels closer to its 52-week high of INR710. The stock price may be down by around 9% from its 52-week high, but has recovered by more than 20% since hitting a 52-week low of INR527 on 3 February 2023. The positive momentum has helped Berger Paints breach its 200-week moving average and reclaim falling trendline resistance on the weekly charts. Experts suggest the stock represents a buying opportunity in the range of INR640 to INR630, and further upside potential up to INR700 in the next month.