BRITANNIA Bang On- 2 Best Indicators You Cannot Miss!
Jun 05, 2024
Simple price pattern along with price indictors creates wonder if one combines it together! See yourself how we identified such a massive move in BRITANNIA. Check out how we selected this momentum stock named as BRITANNIA which has rallied more than 5% in a single day.
We published about BRITANNIA in "The Financial Waves Short Term Update" on 5th June 2024 which our subscribers receive pre-market every day. Check out below detailed research report that we published.
BRITANNIA Daily chart anticipated as on 5th June 2024
BRITANNIA Hourly chart anticipated as on 5th June 2024
Technical Analysis As on 5th June 2024
BRITANNIA has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 3.04%. Overall other FMCG stocks like HUL, Dabur, Marico were up by 3-6%.
On the daily chart, in the previous session prices formed a bullish candle. A daily close above 5370 level will confirm breakout of the rounding bottom pattern. We have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal
As shown on the hourly chart, price is trading above the ichimoku cloud which indicate that the short-term bias is bullish. Closest support is placed at 5035.
In short, trend for this stock is positive. A break above 5420 can lift price higher towards 5700-5750 levels as long as 5100 holds on the downside.
BRITANNIA Daily chart Happened as on 5th June 2024
Happened: Since opening candle itself stock showed a sharp rise and achieved our target 1 and made a high of 5725 which is almost near our target 2 which is more than 5% from buying levels in just 1 trading session
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