Two Bullish Breakout Patterns in a Giant F&O StockA Bullish Breakout of On Neck pattern and a Rounding Bottom is visible on the Daily chart of NSE:BRITANNIA
MACD gave Positive crossover on Daily, Weekly and Monthly chart. So, expecting the momentum to continue.
One can create a fresh position in the scrip as per the levels mentioned on the chart.
Risk Disclaimer:
The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions.
Britania
Britania - Breakout Shakeout and getting ready for proper BO ATHBritania has given a good breakout from the resistance being protected from 1 year.
Post that a shake out helped get the liquidity and now a fresh breakout.
This will be confirmed if the price moves above 4000 mark with volumes.
Keep a close watch.
No tread is also a good tread (for long term)Just wait for a while and watch how it going to act on box most likely to break upper band, but respect to the lower line will open the door for 3800+ with sl of wick of bounce back , 3496 to 3540 will be acting a major resistance so be on the short side near resistance till no clear one-directional rally
Intraday level (Short )
LTP 3436
sl 3447/3475
target 3414/3370
KEEP SL TIGHT NSE:BRITANNIA