Britannia about to break on weekly chartA perfect pole & flag pattern is visible in Britannia, hoping for a breakout here, keep an eye.
Simple price action , no jazz!
BRITANNIA
BRITANNIA TF 1DAY 3 PATTERN BREAKOUT HERE WE CAN SEE THE BRITANNIA CHART AT 1 DAY TF WE CAN CLEARLY SEE THE BREAKOUTS OF MULTIPE PATTERN AT SINGLE MOVEMENT LETS SEE HOW IT GOES BUT VUT IF VOLUME IS SUPPORTIVE WE WILL ENTRE
BRITANNIA -Towards 3800 levelsBritannia saw a good move from 3370 levels, moved above its recent high around 3555, and then taking support at it by moving in a range from the past 5 trading sessions.
Now considering the recent price action, it looks like if it sustains 3500 levels, it could move towards 3800 very fast.
This is my personal view on the stock, please feel free to comment what's our view on Britannia.
BRITANNIA: Consumption SectorSl- 3250
#CLEANANDCLEARCHARTS
WHY does consumption sector stocks like ITC, BRITANNIA, NESTLE does not participate in this whole rally of nifty?
EVEN these were the few sectors which were used throughout the lockdown and then also it didn't give breakout or 100-200% return.
BECAUSE at that time everyone knew that consumption sector is never going to be in bear phase and when everyone new something then it will eventually not happen in Stock Market.
It is a BLUECHIP stock and it won't start rallying from tomorrow. It will take some time, if nifty starts retracing this week then it will participate.
And in next Index rally will outperform.
CONSUMPTION sector stocks are like metal sector - They have their own Cycle(Periods of consolidation)
so PLAN OF ACTION is try to buy every dips towards that yellow zone( the more closer to yellow zone= less SL)
(Will post analysis of ITC, Nestle, HUL, Dabur)
Queries in comment section.
Triangle breakout in BritanniaNSE:BRITANNIA
The stock has fallen 10% from it's 52 week.
The trend line acts as a strong support and resistance respectively.
*Trade Confirmations*
:- The monthly central pivot range is narrow indicating a trending month.
:- Descending triangles have good success rates.
:- Consolidation near the trend line.
*Trade Setup*
:- T1 - 3550
:- T2 - 3800
:- SL - 3350
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BRITANNIA BUY BUY POSITIONAL BRITANNIA RS. 3430
WITH SL 3400 (CLOSING BELOW IN 1 HR CANDLE)
FOR TGT 3500 AND 3650
Britannia Short TradingLooking from the current position @ 3450 Britannia after their FY results are getting into the bear run. From the customary Fib and short trading positions, expect Britannia to hit 3315 in the near term with strong indicators of stock being over bought earlier and from the down trend signals.
BRITANNIA - Important levels Stock is currently trading at a good support level i.e 3430 - 3420.
And at support, it has formed bat pattern with a prz around 3400 levels.
Considering the previous and recent price action, it looks like the stock is getting ready for a temporary bounce back up till 3550 - 3600 levels in the near term.
Trade type: Swing
Bet type: Contra
Risk reward: favorable.
BRITANNIA- NSE- INDIASuch a sweet company, dont leave money on table.
Ex RBI Governer Urjit Patel is the Additional Director of board.
BUY it blindly.
People will never stop eating biscuits, dairy and cakes
britannia.co.in
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Britannia Formed Flag pole patternBritannia Formed a Flag pole pattern. Keep an eye to enter in this stock.
Britannia Long on RadarBritannia is approaching the major support zone now from 3300-3400.
Bullish Harmonics Pattern with 0.886 FIB
Mostly likely forming a double bottom (Not confirmed yet)
Waiting for a bullish reversal signs however Bullish Div is clearly seen on Hourly and 2 hourly TF.
Long here in Delivery and/or F&O is a low risk entry with SL below the major support line.
Britania cup and handle breakoutBritania has broken out of the cup and handle pattern. Upside breakout
BRITANNIA - Falling Wedge + Rounding Bottom -Short Term/IntradayThis analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Trade logic with SL and Target is explained in image itself.
One can Zoom out or scroll the chart to see how price reacted the levels previously.
Don't chase the price.
Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Feel Free to comment for any suggestion or query regarding price action analysis.
To check how stocks move after forming rounding bottom, check the images linked below
PAGE INDUSTRIES (Monthly)
CERA SANITARYWARE (Monthly)
Also you can check the ideas linked below for more understanding.
Britannia Industries - The Cookie can crumbleThe CEO of the company was featured in an Indian Business magazine, in a very laudatory article. It is a widely held belief that such articles herald the beginning of the decline in the company's business, portended by stock price.
Britannia Industries stock has been a laggard in the massive rally in the last 2-3 months. In fact, it broke down below the resistance and is currently trading in another box, which overlaps the previous box.
It is also trading below its flat-ish 30 WMA.
As an when the winter comes to the stock markets, this stock is likely to crumble. Mark it out as a short candidate.
QUICK TRADE in BRITANNIA IND buy above or at 3600 multiple resistance of stock around 3600. once crosses 3600 will move very fast. so buy for quick gains. even possible to gap filling at upper levels
