Britannia closed near Imp Fib resistance level, with respect to major trend line , Alligator provide buy signal but breakout of 3080 can be opportunity.
Above 3080 for 3100,3130,3180
Below 3025 for 3005,29702925
Critical zone - 3025-3080(sideways)
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Price went down even after a gap up today. (as opposed to what was expected)
But the price has respected the previous resistance line and the 20 ema.
In addition, lower lows has formed in chart BUT higher lows has formed in macd - signs of a weaking downtrend.
BUY it if you haven't already
#Britannia Target 3355, SL 3050 (Cash) - Positional call
1. All levels are given in cash.
2. Calls are positional.
3. Positional means 2 to 4 weeks' time.
4. Always follow Stop Loss.
Tweets are for educational purposes, Not recommending anything to anyone. Just watch levels. Levels are in CASH. Buy or sell calls will be only triggered above the mentioned levels....
BRITANNIA INDUSTRIES: The stock is hovering around a very strong support zone. The RSI bouncing off from 40’s further indicate the momentum support in the stock. MACD is neutral and picking up (though not positive yet). A minor bottle neck is placed at 3130 – 3145 levels, above which 3280 &3360 may be evident.
With a bearish bias established in Britannia through my earlier post ( ), I am seeing an interesting intraday opportunity to short at the opening today. In 15 min, there is a good upward rejection of EMA and Pivot. EMA crossover has already occurred and trend is on our...