Love affair with 400 EMA line.
It is taking support every time from 400 EMA,
The risk reward seems fantastic.
Check the Reversal Bullish Candle stick pattern
Entry 3600
SL = 3450
Target = 4000 (Trailing SL should be used)
Britannia Industries Ltd - 19.11.2021
The stock is trading @ 3570 levels
There is a support zone @ 3535 which got tested at 3555 levels
There is a stochastic bullish divergence in daily chart
Prices are below ema
Let the prices go above 3727
Watch out for price action
good stock to buy at this level.
took support at 3600 and moved up
good volume coming in this stock
ready to fly up
Buy Near 3700
SL 3600
Tgt 3967 - 4097
Must Correlate yourself also on charts before taking an entry. This is for Educational purposes only. Please consult your Financial advisor before investing.
Britannia is facing resistance at 3712.
if goes below 3600 ... short for a Tgt of 3400-3370 keeping SL at 3780
and once 3370 reached ... long for a tgt of 3700 & 4000 keeping SL at 3300
if goes above 3750 and sustain and retested ... 3700-3750 will act as support ... Buy at this level for a tgt of 4000 keep s
SL at 3600.
Please correlate yourself also on charts....
The stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.
This is a high risk trade as the market is in a overall bearish sentiment. Plan Trades Accordingly.
Britannia Industries Ltd. engages in the manufacture and trade of food products. It distributes under the following brands: Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold. Its products include biscuits, bread, cakes, rusk, dairy and adjacencies. It operates through India and Outside India geographical segments. The company was founded in 1892 and is headquartered in Bangalore, India.
NSE
