Looking from the current position @ 3450 Britannia after their FY results are getting into the bear run. From the customary Fib and short trading positions, expect Britannia to hit 3315 in the near term with strong indicators of stock being over bought earlier and from the down trend signals.
Stock is currently trading at a good support level i.e 3430 - 3420. And at support, it has formed bat pattern with a prz around 3400 levels. Considering the previous and recent price action, it looks like the stock is getting ready for a temporary bounce back up till 3550 - 3600 levels in the near term. Trade type: Swing Bet type: Contra Risk reward: favorable.
Such a sweet company, dont leave money on table. Ex RBI Governer Urjit Patel is the Additional Director of board. BUY it blindly. People will never stop eating biscuits, dairy and cakes britannia.co.in ______________________________________________________ Trade Crypto worldwide-- accounts.binance.com Trade Crypto India -- www.giottus.com LIKE SHARE AND...
Britannia Formed a Flag pole pattern. Keep an eye to enter in this stock.
Britannia is approaching the major support zone now from 3300-3400. Bullish Harmonics Pattern with 0.886 FIB Mostly likely forming a double bottom (Not confirmed yet) Waiting for a bullish reversal signs however Bullish Div is clearly seen on Hourly and 2 hourly TF. Long here in Delivery and/or F&O is a low risk entry with SL below the major support line.
Ready for big rally.
Britania has broken out of the cup and handle pattern. Upside breakout
This analysis is purely based on price action and Chart Patterns. The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days. Trade logic with SL and Target is explained in image itself. One can Zoom out or scroll the chart to see how price reacted the levels previously. Don't chase the price. Always plan your trade &...
The CEO of the company was featured in an Indian Business magazine, in a very laudatory article. It is a widely held belief that such articles herald the beginning of the decline in the company's business, portended by stock price. Britannia Industries stock has been a laggard in the massive rally in the last 2-3 months. In fact, it broke down below the...
multiple resistance of stock around 3600. once crosses 3600 will move very fast. so buy for quick gains. even possible to gap filling at upper levels
This analysis is purely based on price action and Chart Patterns. The analysis is on 15min TF hence target can be achieved in intraday trade or in couple of days Trade strategy is explained in image itself. Don't run after the price. Always plan your trade & trade your plan Keep trailing SL accordingly once entered into the trade. Trade at your own risk and...
Britannia is trading in a falling channel this month. The stock retraced 50% of the previous fall. It looks to be ready for another down leg. The stock can go towards 3350-3325 levels. 62% extension of the previous fall comes around 3340. So the stock can be sold for target of 3350 with a stop above 3625.
For today we will look to: Sell below 3540 T1: 3450 SL: 3570 RR: 1:3 There might be a pullback as well here if it break. So if in profit trail to SL to protect it. Otherwise as usual book half and keep riding