BRITANNIA trade ideas
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 setupForming swing low after consolidation
Breakout and retest of resistance zone complete
BRITANNIA BUY BUY POSITIONAL BRITANNIA RS. 3430
WITH SL 3400 (CLOSING BELOW IN 1 HR CANDLE)
FOR TGT 3500 AND 3650
BRITANNIA...BEAR TREND MAY CONTINUEA COUTIOUS TRADE ON SHORT SIDE MAY BE TAKEN AS SWING TRADE IN BRITANNIA
TARGET 3329.....85 POINTS.
Trend line breakout and retest.Trend line breakout and retest. Price movement and target as mentioned in chart. Target 2850
LONG Britanniastock is showing sign of good reversal after long down trend. Long for target of 3640.
Britannia Weekly Chart, near retest zone >> PositionalNSE:BRITANNIA
Description on chart.
Disclaimer: The view is for study purpose only, I am not a SEBI registered person please contact your financial advisor before investing.
brittania retest and continuation of trendbrittania has succesfully retested and is continuing the trend good point to enter again
and ride the trend
Britannia INDBritannia strong demand zone at 3250-3300 short term trader can sell from current level definitely fall to the zone and then one can buy Long term.
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.
Swing trade posibilitiesIts in a consolidation mode, we can buy if it breaks 3479. Target 3760
TIMELINE : 10 DAYS
