BREAKOUTI like how this is setting up.
Clean breakout on weekly and strong monthly candle close above resistance
Fundamentally stable.
BRITANNIA trade ideas
BRITTANIAThe pattern of HH HL seems to be going well, if looking for long, entry can be taken above 3585 for upside targets.
BRITANNIA - BREAKOUT CANDIDATEBRITANNIA - BREAKOUT CANDIDATE
Above 3490 it can move towards 3860 - 4000 levels
Trading Call : Buy Britannia Industries Ltd. NSE:BRITANNIA is making Higher Top and Higher Bottom on Daily Chart. Stock is trading above all key moving averages. RSI & ADX is also showing strength.
We are recommending Buy around 3425-3450 range with Stop Loss below 3300 on closing Basis with Target of 3700 in next 3-4 weeks.
Target 3800 in coming days- Buy now at Fib retracement entry .618 and target 3800
- Sell below 3204 if its downside.
Britannia breaching ATHBritannia is attempting to breach its previous All Time High. This will lead to price discovery. My first target would be 4000 as that would end the CD Impulse leg of the ABCD pattern.
Should we buy into strength in Britannia ?On the Weekly chart, there is a bullish divergence and the RSI has broken the high between the two ends of the divergence. Furthermore, price has reached a 52- W high, and has crossed its resistance. We ought to wait for a strong close, and then a pullback. At least that's when I would enter.
Britannia on its fourth attempt to break the hurdleBritannia gave us a buy signal at 2865 then made a high of 3288 and then retraced back to 2865 took a support at the earlier resistance of 2865,Now it is again giving an attempt to cross 3196 for the fourth time.Let's wait and see the candle formation near this big hurdle and then we will decide the futher course of action.But keep on radar this will be a very good trade in near term.
Britania UptrendCMP: 3167
Targets: 3392, 3558
Buy Below: 3040
Support: 2991,2884
SL: Exit below 2884
BRITANNIA - SHORT (wait for pullback to Supply Zone)BRITANNIA - SHORT (wait for pullback to Supply Zone) - > to Initiate SELL side.
Britannia ~ Distribution Phase over?We got historical volume on 3rd week of April and yet price couldn't break above upper range of distribution and in fact price closed with 2 upper wick for consecutive weekly candle. As long as price stays below 3400, we might see big down move on this instrument.
Target 1 - 1400.
Target 2- 850. Failing to hold 850 will take price to much lower levels.
Target 3 - 430.
Potential reversal with inverted hammerHello,
Found inverted hammer at the support zone and potential reversal can be expect in the chart.
Will initiate the long trade with the stop loss of hammer lower weak.
Regards,
Satish
Britannia Ind , 75 Min Analysis . * Price Touching Bottom Of Channel , Retraced Almost 0.618 .
* Neutral Candle With High Vol . ( Above It Go Long .)
Happy Learning .
Longterm : BRITANNIA go long; price range to buy 2643 and below BRITANNIA go long; price range to buy 2643 and below
Britannia Industries - Bearish Bias - Can Short at current levelBritannia Industries - Bearish Bias - Can Short at current level
