BRITANNIA LONG (INTRADAY NOV 7)Hello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
BRITANNIA is in uptrend on daily and in 1 hour it has made Descending Channel now on breakout it could show upside movement. Thank you !
BRITANNIA
#Emamiltd #HINDUNILVR #ITC #DABUR #BRITANNIA #MARICO #NESTLEIND NSE: EMAMILTD
CMP: 486.35
Target 596 ~23%
Stop Loss: 450 Trailing
RR > 3
Tf 6M.
NSE:EMAMILTD
Factors:
BULLISH WEDGE BREAKOUT
Trend Following
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Earnings are strong.
Bullish Wedge Breakout
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming.
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With 💚 from Rachit Sethia
Britannia Weekly chart crucial supportBritannia is taking support from its crucial levels.
It's respecting these levels since June 2020.
Reward to risk is 3.9:1. Very favourable.
If it breaks the support zone, we can go short. Target has been marked with a red horizontal line.
Simple and straight forward analysis.
Let me know in how to went in the comments.
BRITANNIA INDFundamentally strong stock.
Higer delivery quantity.
Close entering 52 week high zone.
High ROE
High ROCE
Net sales last 4 years growth ratio is positive.
Cash from operations for past 5 years is positive every year.
Dividend has been paid (since-2011)
As for data available date- 25-01-2022
Britannia breakout, go longBritannia ha been trading in a parallel channel for some time now it has given a breakout, we can make positions for the upper marked targets.
Buy above - 3575 (wait for a pullback)
Targets mentioned in the chart above
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Britannia ReversalThe stock has reached lower trendline and may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below support zone & the lower trendline. The target is placed near swing high.
This is a high risk trade as the market is in a overall bearish sentiment. Plan Trades Accordingly.
GBP/USD's REBOUNDWe had a complet Up trend in the British Pound it is excelent to Buy it probably will reach this three levels But the buyers still in the bed... We'll wait for the morning if it still going up then there is a chance. The market gave us one sign this price is the lowest price we had for today. Let's see if there is any updates for tomorrow.