Britannia has given breakout from the descending trend line joining the peaks on the daily chart. This breakout has come after 35 weeks or 8 months of consolidation. The breakout has been accompanied with 25% higher volumes above 10 days average. Simultaneously the breakout has come after confluence of three major moving averages, 18, 50 and 200 days exponential moving averages in a golden cross over.
Immediate target is 4000 and weakness below 3575.
Disclaimer: I'm not a SEBI registered advisor. This is not a recommendation to buy or sell, but for education purpose only.
Immediate target is 4000 and weakness below 3575.
Disclaimer: I'm not a SEBI registered advisor. This is not a recommendation to buy or sell, but for education purpose only.