achalmeena
Long

Britannia - go long

NSE:BRITANNIA   BRITANNIA INDS
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Recent low was on 7th Aug 2018 : 6172 and high was 6909 ,
6909 - 0.23(6909-6172) = CMP of 6739
What a coincidence?

Other levels using Gann :
6330 ( sq root of 6172 +1 and again squaring)
6490 (same as above)
6652
6816
6982
CMP : 6736

So , T-1 : 6816 (as discussed above also by drawing tangent to SMA20)
T2 : 6842 (by drawing tangent to SMA20)
T3 : 6874 (by drawing tangent to SMA20)
T4 : 6918 (.618 of diff between 6982+6816)
T5 : 6982 (as discussed above)

Why to buy above 6752 ?
Its .618 of diff between 6816 and 6652)

I don't bet for big move for few days , it may consolidate or may also go down till 50% retrenchment , i.e. 6540 (but it has already done so on 30th Aug 9:15 candle)

Sep 03
Trade closed manually: After breaching 6752
Sep 03
Comment: new supports 6652 and 6540
Sep 04
Comment: also breached 6540 next possible target 6380

mid point of both the above levels is 6460
0.618 would be 6442

I would not be posting/updating further in this thread
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