The stock has moved to all time highs. I think there will be a lot of resistance at the high point and it will retrace towards the long term resistance marked on the chart.
It is in a strong bull run and will provide a good buying opportunity in the coming few days.
Buy @ 3650
SL @ 3400
Trailing stop loss strategy.
Note: This is for educational purpose only.
As per the comments on chart, there seems to be a bearish bias in BRITANNIA. Morever, there is a bearish cloud cover pattern with huge volume. Hence, conviction is more on bearish side.
THIS ANALYSIS OF BRITANNIA IS FOR NEXT 10-15 TRADING SESSIONS .EVERYTHING IS CLEAR ON THE CHART .
BRITANNIA HAS SUPPORT AT PRICE 3275-3310 LEVELS.
CONDITIONAL BUY IS ONLY AND ONLY ABOVE 3445 .
FOR THE TARGETS OF (!) 3520 , (!!) 3555.
YOU CAN KEEP SL AT 3375-3340 LEVELS . KEEP IT FLEXIBLE .
NOTE: PRICE MAY COME DOWN TO 3375-3340 LEVELS BEFORE GOING UP...
Britannia broke Resistance @ 3260 and moved swiftly to 3400 and closed below Resistance level of 3395. Considering current scenario if will be hard to brake 3395. If it is able to hold 3393 it will gain 60 points before starting downward journey. If it is not able to hold 3395 britannia can be a perfect short for target of 3100