A 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.
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The information provided in this analysis...
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Monthly , weekly and Daily
Blast ab yeh nahi rukega,
5% upside from here keep sl as vwap
Britania 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.
britania currently in channel, {rectanguler }
as per showing in chart channel when its come down near about 3350 - 3400 area act as support of channel
when its come down then movementam come down of falling,
then its opportunity to buy and hold
our stoploss of low of channel
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...
The stock has entered in its gap and might fill it in upcoming session.
These are my independent views and follow your own analysis before taking the trade.
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