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.
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Yuvaa Trades
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
Britannia has shown clean 5 wave decline in wave A, indicating that the short term structure is bearish, but near term pullback is due as a wave B which can maximum retrace upto 50% or 61.8% of wave A, possibly near 3500 levels. Once the pullback is complete wave C would be ready to start journey towards south directions Down towards 3200-3300 range.
Overall...
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 is looking good to Buy above 3570 for the marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
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
Britannia Industries Ltd - 10.12.2021
The stock is trading @ 3632 levels
There is a HAMMER in weekly chart
There is a SPINNING TOP in daily chart
The prices are above ema
Stochastic overbought in daily chart
Watch out for the price action
Britannia looks good to buy if sustains above 3875 for the marked targets on the chart until 3810 is intact on the downside on a closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Britannia's stock price has fallen after it reached the potential reversal zone or supply formed by the XABCD bearish shark pattern.
The price took the correction until point C of the pattern which is an ideal ultimate target for the shorts who followed this pattern. Recently after the correction, it rose and broke out it volumes above the PRZ.
Considering RSI...
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.
BRITANNIA has been narrowing its movement range between two converging lines and the formation is resembling a triangle pattern. Right now it seems to be facing rejection from the upper line of the pattern. One could go short with the following levels in mind:
SHORT BELOW: 3575
STOP LOSS: 3645
TARGET 1: 3505
TARGET 2: 3435 ...
