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.
TCS among top 3 trading calls for next week: Rupak De of LKP Securities
Nifty futures showed bullish optimism with high rollover rates in May. Nifty Bank saw lower rollover numbers, signaling investors are booking profits. Auto, Cement, Pharma, PSU Banks and Realty sectors are more likely to perform better in the next series, with Grasim and Berger Paints receiving the highest rollover, ONGC, ICICI Lombard and Hero Motor having the least. The Nifty's upside potential could reach 18,800 to 19,000 in the coming period. FIIs remain confident in the Indian markets, while RIL's rally was influenced mostly because of a consolidation breakout and double-bottom formation.
Hold Berger Paints (India), target price Rs 670: ICICI Direct
Increased focus on the ‘water proofing & building chemical category will continue to drive revenue growth for Berger. Construction chemicals will form ~10% revenue of decorative paints in the next two years.
Buy Berger Paints India; target of Rs 766: Religare Retail Research
Religare Retail Research is bullish on Berger Paints India has recommended buy rating on the stock with a target price of Rs 766 in its research report dated May 16 2023.
Hot Stocks: Brokerages on Max Financial, Berger Paints, Polycab and HDFC Life
Jefferies maintained a buy rating on Max Financial and Polycab India based on their healthy growth trajectory, benefiting from the infra/capex/housing revival. Macquarie retained its underperform rating on Berger Paints, which reported slower Q4 sales performance, due to Grasim's entry. But it maintained an outperform rating on HDFC Life, citing the management's confidence in consistently delivering above industry APE growth and achieving 17-20% growth in the APE and VNB segments, despite regulatory changes and heightened competitive intensity.
Stocks in news: PVR Inox, Airtel, Bank of Baroda, Jindal Steel, Tube Investments
Multiplex chain operator PVR Inox has reported a net loss of Rs 333 crore for the quarter ended March. Revenue from operations during the fourth quarter more than doubled to Rs 1,143 crore.
Sajjan Jindal group planning JSW Paints stake sale to private equity funds
JSW Group, which internally values the family-held paints business at around $2 billion, has engaged Axis Capital as an advisor for the transaction and has begun preliminary rounds of discussions with several bulge-bracket global private equity funds, they said.
Hot Stocks | Here's why you should bet on GNFC, Berger Paints, Power Grid for short term
GNFC has given a strong breakout on the daily chart with a sharp surge in volumes. The stock has broken out from a falling channel pattern which was in force for the last 2-3 months.
Top 10 bets for next 3-4 weeks as investors should opt for 'buy on dips' strategy
The 17,600 level is expected to be crucial for further direction of the Nifty50 going forward and, if the index manages to hold the 17,500-17,600 area, then 18,000 can be a possibility in coming sessions, experts said
Saurabh Mukherjea on why he added Divi’s to Rising Giant portfolio and gems of Little Champs portfolio
Marcellus Investment Managers has increased its position in Divi's Labs substantially in its flagship portfolio CCP and added it to its Rising Giants portfolio. Other than that, the only other addition has been in Kings Of Capital portfolio that saw the addition of Prudent Corporate. Marcellus' Little Champs portfolio holds Mold Tek Packaging, which is the leader in in-mold packaging for high-end FMCG products, Paushak which is a quasi-monopoly in Phosgene, and GMM Pfaudler, which has 55% market share globally for glass-lined reactors.
Ahead of Market: 10 things that will decide D-Street action on Wednesday
The benchmark S&P 500 was little changed on Tuesday as investors stayed on the sidelines ahead of Wednesday's inflation data that could determine the U.S. Federal Reserve's next policy moves.
SCRIP: BERGEPAINT. TF: Day Bergepaint showing good resilience. Took a good support and started to make upward movement in the channel making higher highs immediate price movement to 610/- can be seen i.e, close to the upper trendline, if trendline is taken out a very......read more
Berger Paints expecting double-digit growth in Q4: MD
Berger Paints CEO, Abhijit Roy, has said that there is no need to lower prices in the Indian market if demand continues to hold up. Roy said that following a weak Q3 due to bad weather, the paint industry was back on a growth path with almost double-digit growth expected in Q4. The correction in raw material prices was helping the industry recoup earlier losses, he said.
Lookout for Bergepaint ready for a Breakout, Entry can be taken after the sloping Trendline is taken out and a closing is given above the same. Looking for 15-17% returns in 6-8 months.
FMCG brands experimenting with pack sizes to curtail competition: Abneesh Roy
Campa Cola is priced a bit cheaper compared to other beverages in terms of Pepsi, Coca-Cola or other colas as well. Is this is the beginning of a price war? Will that be something of a threat for these other companies? Campa Cola has not advertised for a few decades. The consumers who used to know Campa Cola may not be a very relevant customer base now because of the positioning of this kind of product. So those would be the bigger challenges.
see the chart of berger paints (only education purpose)
daily time frame breakout
next resistence 623-625
kisi bhi retracement m 601-595 m long karege with confirmation , resistence ko touch karke girega to tab nhi karna h buy kyuki wo supply zone h agar 625 ka breakout hua to ......read more
Dalal Street turns green on paint stocks; will the colour last or fade away?
“The green shoots in demand revival on account of a pick-up in real estate demand will add colours to the sector. Further, the current deflationary trend in raw material prices will be reflected in margins in the coming quarters,” said Antu Thomas, research analyst at
Muted market hurts analyst sentiment barometer, but Adani Ports, 2 others remain top buys
From the record highs, benchmark indices have corrected about 10% and this helped remove some froth over valuation. Valuations are closer to the fair value with Nifty50 trading at around 18 times its one-year forward earnings estimates.
Paint stocks: Should Asian Paints and Berger fear Grasim’s entry?
If Grasim grabs a 20 percent market share by FY30, then the industry’s operating margins will contract by only 150 basis points while a 5 percent market share can shave off 400 basis points from the margins
Worried about D-St volatility? M-cap of top 100 stocks set to rise 17%; ICICI Bank, RIL to contribute lion’s share
The consensus report projected top-15 stocks to be contributing 68% to the potential target price upsides of the Top-100 set while the remaining 32% to be contributed by next 85 stocks.