Trading cannot get simpler than this_BRITANNIA_TRADE-SETUP

neeraj_2_sharma Updated   
The good old support and resistance play ongoing in Britannia.

The stock first broke out on Nov.7 from a 2 month old resistance zone of INR 4600-4650.It has then again tested the same breakout level on Tuesday's trading session. This retest seems to have re-energized the engines of this stock that is cruising forwards quite strong from past 2-trading sessions.
Another minor resistance of 4710-4730 has been taken out in yesterday's trading session as well.
The stock shall now advance towards INR 4960 which could be used as a target level for a short term trade.
INR 4710-4730 shall now be considered as a support area for the stock in case it pulls back a bit on smaller timeframes. The pullbacks are always great to look for to enter into a trade.

Note*- The views are based on personal opinions/observations. Please do your own research before making any trading/investing decisions.
Trade closed: target reached

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.