Britannia can give a good swing or positional trade with a decent stoploss and good Targets
ENTRY- 4750
STOPLOSS - 4690
TARGET - 4900, 4950, 5000++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi registered this is my personal view
Please like or boost my idea...
Only for educational purposes.
This is a tutorial on drawing channels. I have taken this stock, but any stock can be taken as an example. To draw a channel, touch the top tips and drag the handle down to create a channel.
Britannia is in good consolidation phase and if it breaks on the upper side there will be good chance of making a nice up move with some heavy targets
And which leaves a swing to positional opportunity for us
ENTRY - 4995
STOPLOSS - 4895
TARGET - 5200, 5300++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go...
Britannia might take a u turn and give a good swing or positional trade opportunity with a decent stoploss and good Targets
ENTRY - SUSTAINING BETWEEN 4930-4950
STOPLOSS - 4830
TARGETS - 5050,5200,5400++
Note- if any trade or value that's gone from the marked levels then that's not our trade just let it go or wait for it to come back
I'm not sebi...
1-hour chart, the stock is trading in an expanding triangle, with tendency to test the mid line before rebounding to the Resistance R.
Above Resistance at around 5250, the target will be 5625
Below mid line (SL), stop loss ; as the high chance to test the support line S.
NSE:BRITANNIA Formed Inside Candle Pattern
Inside Candle Formed on Weekly Chart ..
Either Side Breakdown or Breakout is Possible
the Range is So Important
if Breaks Upside Then Possible Targets Are Marked
if Breaks Downside Then Possible Targets Are Marked
Britannia showing strong upside momentum, has strong weekly support near 5150
Entry can be near support
5140 - 5150
Target 5387, 5438, 5529
7.5% Upside Potential
Britannia has broken out with great volumes, retest done too. Going long at current levels looks good with a target new ATH, can stay in the long trade as long as the stock is trading above 5270!
Supports are marked on the chart.
BRITANNIA DAILY CHART
Ellipse breakout @ 5060 Target 5750-5840 (MOB) Support @ 4700
This stock has witnessed an ellipse breakout @ 5060 levels, with target projected as MOB @ 5750-5840 levels.
Its only an observation & not any suggestion or recommendation
As we can see stock is on ATH and trades above all EMA on day week month TF and retrace with gravestone doji on day TF. looks strong on week & month.
it can go in a further upward direction.
TECHNICALS
—RSI ABOVE 60 ON ALL TF
—CUP & HANDLE BREAKOUT 5 JUNE WITH GOOD VOLUME
—OPEN MARUBOZU
—BULLISH CROSS OVER
ENTRY IS MENTIONED ON THE CHART
educational purpose...
