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
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...
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.
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