Tech Stars : Berger Paints India Ltd And Godrej Consumer Products Ltd By Religare Broking
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Berger Paints India Ltd
TECHNICAL RATIONALE
Berger Paints has been gradually inching higher after the trend reversal in May 2023. It has formed a higher base in the recent weeks with noticeable volumes which indicates accumulation. We expect the resumption of the up move soon. Traders should utilize this pause to create longs in the mentioned zone.
Buy Berger Paints India Ltd CMP: 695.50, Initiation Range 695-698, Stop Loss 678, Target 745
Godrej Consumer Products Ltd
TECHNICAL RATIONALE
We are seeing a mixed trend within the FMCG basket and Godrej Consumer is showing noticeable resilience. It has been maintaining a steady uptrend for the last one year while holding firmly above the trendline support on the weekly chart. The recent dip to the 20 EMA is offering a fresh buying opportunity to those who missed the chance earlier.
Buy Godrej Consumer Products Ltd CMP: 1035.55, Initiation Range 1032-1037, Stop Loss 995, Target 1120
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