The Berger Paints trade was implemented smoothly with high confidence. Why high confidence? As in the previous week the stock ended in consolidation and made a higher low. The consolidation was with low volumes. Remember ‘silence before the storm’. Moreover the 15 mins price was very near to 200 SMA and hence had a high probability of crossover. Everyone knows about Golden Cross !!
Daily had a healthy correction and took support at 20 EMA, which was a double confirmation. Entered trade at Rs 798 levels and made an exit at Rs 811. Approximately 13 Rs upmove captured. Below is the chart.