Powered by: Motilal Oswal
22/02/2021 12:46:31 PM | Source: ICICI Direct
Weekly Recommendation - Short Berger Paints For Target Of Rs. 700 By ICICI Direct
News By Tags | #426 #3961 #1194 #3050
Weekly Recommendation  - Short Berger Paints For Target Of Rs. 700  By ICICI Direct

Rationale

Paint stocks have remained under pressure in the last couple of weeks. Stocks like Berger Paints, which showed relative outperformance, recently started showing signs of weakness and are likely to witness selling pressure in coming sessions. The stock has seen constant additions of positions in the last few sessions while almost 20% OI was increased indicating short positions. In the options space, significant Call writing is visible at ATM 750 and 760 strike, suggesting expectation of limited upside. We expect the stock to move towards its Put base of 700 in the coming sessions.

Short Berger Paints (BERPAI) February future in range of | 745-750; Target: | 700; Stop Loss: 772

 

To Read Complete Report & Disclaimer Click Here

 

https://secure.icicidirect.com/Content/StaticData/Disclaimer.html

 

Above views are of the author and not of the website kindly read disclaimer

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here