BRITANNIA
Britannia - Get ReadyBritannia is coming close to its long-time support trendline. If a reversal is shown any day, it may go in an uptrend. One may wait to enter at a lower price around 3450-3400 if falls further. Early targets are indicated on the chart.
Only for learning and sharing purposes . Not a trading recommendation.
Please comment on what do you think about the setup.
All the best.
Britannia Trade Long For TomorrowAs you can see in the chart from last 10-15 day stock is consolidating behind 3700 levels.
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Today stock has given the breakout and then made a green candle.
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So for tomorrow if stock goes above 3750, you can this trade for the Target of 3900.
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Note: This is a swing trade & this is only for educational purposes.
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Don't forget to like the idea, if you think it's helpful.
HIGHEST PROBABILITY POSITIONAL TRADING SETUP IN BRITANNIAReasons to BUY now
1.WEEKLY TIME FRAME ANALYSIS:
.Breakout from FLAG and POLE pattern / Parallel Channel Pattern with good volumes and is now retesting it with low volumes
.RSI is 48 which indicates long term strength
.EMA 52 rejection
.0.618 Fib ratio rejection
2.DAILY TIME FRAME:
.EMA 200 Support
.BULLISH engulfing candle pattern after a false breakout of EMA 200.
NOTE: This is a positional trade and will take time to perform and give targets...but this is the safest trade one can take in this market.The stock might also give a false breakdown from these levels and then head higher as it is a bull market and an uptrending sector stock...
FOLLOW me for more such content ahead...Till then,
HAPPY TRADING :)
BRITANNIA 1D Time Frame AnalysisBRITANNIA 1D Time Frame Analysis
- Strong Support near 3300-3400 and psychological support of 3000
- Moving in the symmetrical triangle since March
- And a possible Double Bottom near support
- Most probable chances are it will bounce from here and rally towards 3600
- More Direction will be clear after touching the upper line of the triangle
- Psychological Resistance of 4000 at top and also previous ATH level