Berger paints ready for upward trend ?

Berger paints as on 17/5/21
CONDITION 1
1. Current Trend: Sideways
2. Trading near its resistance level.
3. Tested resistance level many times.
4. Resistance level: Around 770
5. support level: Around 700
6. RSI > 60
7. MACD: Fast length above the small length
8. Volume: Higher volumes past two days
Thought process: If the price in near future breaks resistance level with high volume, a buy trade could be generated.
Target: (5%) Around 808-810
(10%) Around 847-850
Stoploss: Around 735-740

CONDITION 2
If unable to break resistance level and move downwards in near future...
we will initiate a sell trade.
Target: Support level
stop-loss: Resistance level

Yorum:

Condition 1 is achieved !!!