The stock is
gradually decreased in the last couple of weeks and it seen taking a strong
support from 2630 to 2720 range.
The Primary trend is bullish and the strong bounce back is witnessed on the
resistance zone. The next major resistance for the stock is placed at 3170
level.
The stock has slid -9.16% over the last 4 weeks while in the last 5 trading
periods, shares have moved 1.44%. On the indicator front, the daily RSI (14)
started correcting from over sold scenario and is oscillating over 30 levels.
If stock breaches major support
on the downside then the stock may drag towards the next major support on lower
side so, any move below 2630 will be negative for the stock.
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Stock Ticker – NSE: BRITANNIA – Britannia Industries Ltd. – CONSUMER GOODS
Bullish Trade plan:
Entry Level 2740 Target 2865 Stoploss 2615
Analyst Rating – :5/5
View Posted on 2019-05-16
