Buy Berger Paints, says Nooresh Merani

Buy Berger Paints, says Nooresh Merani of AMSEC Research.

Merani told CNBC-TV18, "Buy Berger Paints. The stock has been consolidating in the range of Rs 95 to Rs 113 over the last three months as well as over the last six to eight months it has made almost four attempts at the resistance level of Rs 112 to Rs 113." He further added, "On the downside generally the stock finds a lot of support in the range of Rs 96 to Rs 102. In the current correction the stock has come down to Rs 101-102 levels. One can accumulate the stock at current levels with a medium term target price of Rs 120 to Rs 135."