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 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...
The Grey area is the BRITANNIA's most crucial and heaviest Support zones if that level breaked then the stock perfectly went into down trend and cant be sustained
or
Other Case,
as i am showing an arrow of upward indication as per my analysis its 99% possible that stock can turned into reverse mode, We just needed two things to create position for a perfect...
The stock looks good to buy near 3570 for the targets of 3625 and 3650 until 3535 is intact on the downside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
