Britannia industries has finally broken out its months of triangle consolidation. It appears to have broken this out on the SHORT SIDE. After a confirmation of the breakout, its going to be a nice and SHORT ride :)
Britannia has just hit it's long term support trend line and stock has always respected it in the past, plus there is contraction in price movement confirming to triangle. Stock is consolidating about 38% fibonacci retracement level. All factors are indicating a big potential move. Jai Hind.
BRITANNIA facing resistance at 50 sma, at supply zone, bears seems to await ferocious to attack the price downwards. Target 3000, Go short
SWING TRADE IN BRITANNIA MARCH FUT BREAKING OUT OF CONSOLIDATION RANGE MOVING AVERAGE SUPPORT AT NEAR LEVELS BUY@3090 STOP@3060 TARGET@3150 LOT:200 QTY:2
Buy Britannia on a dip for short term with SL of 2750 and targets of 2950/ 2995
Buy Britannia on a dip with a SL of 3049 for a better Risk-Reward with targets of 3141/3175. Do not take a trade if it opens above 3108. #intraday. Adjust trading volumes as per entry price. Disclaimer : All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading...
keep trailing your sl , as it goes up!
Long : Britania going for 6400 from CMP 1 -2 days
BRITANNIA is moving in a range for a few weeks now. Bouncing between the two levels. Wont be too big on Head and shoulders though. It may reverse for another leg down.
Britannia in a range. Making Double top and double bottom. Currently resting on the midline. Can break in any direction based on Results
Triangle in higher timeframe, once sustains 3250 with volumes, becomes a buy on declines for 4000+
I use this kind of setup for trading and it works mostly. Buy the stock with stop loss little below the last swing low and let it trade run with trailing stop loss. Mostly the reward is reasonably good. Good Luck