Britannia Industries bounced from important support levels, which had acted as Support and Resistance for the past 5 years.
Stock can be bought above 3380 for target around 3650 and 3750, SL should be 3200.
Happy Trading
Yuvaa Trades
Stock Name - Britannia Industries Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 4304
#This is not Buy and Sell recommendation to any one. This is for...
Britannia Industries Limited is an Indian company specialised in food industry, part of the Wadia Group headed by Nusli Wadia. Founded in 1892 and headquartered in Kolkata, it is one of India's oldest existing companies and best known for its biscuit products
NSE:BRITANNIA
Formed NR4 and inside candles near resistance zone.
Clear Breakout and sustain above 3800 is important
Already give clear BO of trendline and sustained near resistance zone with LHLH structure
Above 3862 can have T1 3950, T2 4000 T3 4150 with Stop loss of 3690
Britannia on a weekly and daily time frame has closed between 20 and 200 ema.
A bullish hammer is formed on a weekly time frame and has closed above the resistance levels of 3355.
The market has consolidated near the levels.
Support :- 3350, 3280, 3180
Resistance :- 3400, 3445
If an hourly candle closes above the levels of 3370, a bullish trade can be...
Britannia on a daily time frame, has formed a shooting star or inverted hammer kind of candle.
For last 3 trading days it has been consolidating near a crucial monthly resistance.
If the price of the stock closes below 3340 on daily basis it can fall further.
Support :- 3280, 3180
Resistance :- 3350, 3402
Wait for the levels to sustain above/below the...
Britannia Industries Ltd - 04.03.2022
The stock is trading @ 3371 levels
There is a SUPPORT Zone @ 3300 levels
The prices are below EMA
There is a HAMMER at SUPPORT in Weekly Charts
Let the prices go above 3451
Stochastic is oversold in Monthly Charts
Watch out for the price action
Britannia
Cmp - 3638
Stop - 3300
Expectation -
T1 - 3800
T2 - 4100, Review at 4100
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
View:- Swing/Investment
Disclaimer:-
Not a SEBI registered advisor
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Reasons 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...
BRITANNIA 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...
I have spotted a very clear double bottom pattern on the chart of NSE:BRITANNIA
The neckline has been broken with force and with volumes. The 20 period moving average confirms the trend we are pursuing.
Taking a trade at this point might be risky as the risk to reward is not favourable but keep this setup in mind for the next few days.
Hello Everyone, Please have look on the Daily Chart of Britannia & confirm whether it can hit 3700 or not? In coming days. What are the things you are able to see on the charts. Only for Educational Purpose
