Berger Paints: Multibagger Stock Elliott Wave Impulse 3rd, Why?
Berger Paints had been touching new lifetime highs and has given amazing returns so far in our Multibagger stock recommendations.
Majority had been waiting on side-lines to get into such stocks but we recommended it right before the trend started using Elliott wave and Time cycles
Look at the below chart where Berger Paints stock was recommended:
Berger Paints Daily chart: (Buy Given near 540 – 480 range)
Multibagger stock recommendation on 24th June 2020: Berger Paints
Buy Price – Buy at CMP 540 and more on dips to 480
Time Horizon – 2 -3 years
Investment – 5% of capital
Target price – —
Stop loss – —
Refer detailed research below
Elliott wave perspective: As shown in weekly chart of Berger Paints prices are in cycle degree wave (III) and within this wave V of (III) has now started on upside in the form of impulse wave. Prices are moving in well channelized manner and we might see it moving towards upper trendline over the years. Currently wave 2 seems to be unfolding which could show minor dip. Post that the strong up move would be wave 3 which will take prices higher towards our target levels of ….. or higher levels
In a nutshell, one can initiate buy near 516 – 540 levels and add more on dips towards 480 levels. We maintain our target of ….. or higher..
Happened so far: We had recommended this stock just 6 months ago to our Multi-bagger clients. Up till now we are getting more than 50% returns. The journey of this stock is still long way as we are seeing the impulse wave in progression.
The above analysis clearly shows how one can identify the stocks from positional investment perspective just with the help of Elliott wave, time cycles and other basic indicators. If you wish to build portfolio we can help you with identifying the stocks which can give alpha returns over medium to long term holding period. Grab your Multibagger Research Report Now. Click here
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