In the recent mania of our technical charts, we can see Britannia Industries again taking the crucial support of 3393 on 30th July 2021. We can benchmark this crucial support against the historic crucial support of 3393 on May 21, March 21, Nov 20 & Oct 20 giving a breakout above 3497. Below is the recent view of the charts on 2nd Aug.
In the above image, we can see that whenever the market took the support of 3393 it took the immediate resistance @3497.
NOW, WHAT’S NEXT?
We can see that whenever it breaks the resistance of 3497, it takes a quick resistance of 3610 and 3680 respectively.
Britannia gave a movement of Approx 200 Points in the last 2 trading days (2nd Aug & 3rd Aug 2021) giving a closing of 3573 on NSE and 3571 in BSE.
We can also see a Flag Pattern formation in Britannia and today’s closing is an important closing for this stock either it will retrace from this point and again take support of 3497 or break into resistance point of 3575 and we can see 3716 and 3863 on coming days in Britannia (Shown in the Image Below)
RSI also shows that Britannia is in a completely bullish trend.
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