Britannia has good support zone at 4485 to 4400 and it is forming a base near this zone. We may see the marked targets with green chart if 4400 remains intact on the downside.
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The right way to make money in low volatility stocks is via calls and puts (as they are generally priced much lower than the expected move). The risk reward in this case can be far better than just plain cash buying (so 1:3 or 1:4 at times)
Britannia is fundamentally strong (good results, ROE, etc) - healthy management commentary. This is an update as the stock...
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.
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...
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 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.
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
Cmp - 3638
Stop - 3300
T1 - 3800
T2 - 4100, Review at 4100
Expected Holding Period - 3 months or earlier for T1, 5 months or earlier for T2
Not a SEBI registered advisor
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
As you can see in the chart from last 10-15 day stock is consolidating behind 3700 levels.
Today stock has given the breakout and then made a green candle.
So for tomorrow if stock goes above 3750, you can this trade for the Target of 3900.
Note: This is a swing trade & this is only for educational purposes.
Don't forget to like the idea, if you think it's helpful.
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.
InvestPro India Team
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