Britannia has to potential to reach and sustain 3200 levels. It has some strength volatility left, meaning, a little push towards 3120 level is possible. Post that, a retracement to a support level and then a bounce back to 3150 levels
Britannia has entered into a descending price channel after scaling 52-weeks high. RSI on a daily chart is at 44.70, bearish sign. If you roll up to monthly price movement then Britannia has formed Bearish Piercing pattern between October and November. Price in November opened higher than October. However, price movement in November has formed a bearish candle....
BRITANNIA INDUSTRIES: The stock is hovering around a very strong support zone. The RSI bouncing off from 40’s further indicate the momentum support in the stock. MACD is neutral and picking up (though not positive yet). A minor bottle neck is placed at 3130 – 3145 levels, above which 3280 &3360 may be evident.
With a bearish bias established in Britannia through my earlier post, I am seeing an interesting intraday opportunity to short today. In 15 min, there is a good upward rejection of EMA and Pivot and a subsequent engulfing red candle. RSI Hidden Bearish Divergence also supports. EMA crossover has already occurred far back and trend is on our side. Will look to...
With a bearish bias established in Britannia through my earlier post ( ), I am seeing an interesting intraday opportunity to short at the opening today. In 15 min, there is a good upward rejection of EMA and Pivot. EMA crossover has already occurred and trend is on our...
Monthly gives a mixed view with green candles and minor resistance rejections.
Weekly:- Doji formed at Monthly Resistance, price losing steam, showcasing negative bias.
In daily, there is a nominal bearish divergence in RSI as well as red candle rejection of monthly resistance. Now,...
Britannia Industries Ltd. engages in the manufacturing and trading of food products. The company distributes under the following brands: Good Day, Tiger, NutriChoice, Milk Bikis, and Marie Gold, etc. Its products include biscuits, bread, cakes, rusk, dairy and adjacencies. The company was founded in 1892 and is headquartered in Bangalore, India.
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BRITANNIA
