September 07, 2017
Britannia (NSE Cash)
BUY
` 4170
` 4270-4285
` 4490
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 11.00 IST)
Justification:
After a decent up move stock price has entered into consolidation mode which is a normal process to digest its earlier gain. On
the daily chart, stock prices for past 14 sessions have traded in a very narrow range of 4280 - 4140 forming a rectangular
channel pattern. At the current juncture, prices are trading above the higher range indicating a bullish breakout and resumption
of the previous up move. Additionally, momentum oscillator i.e. RSI is positively placed supporting the buy call. Hence, we
recommend buying this stock at current levels and on corrections up to `4270 for a target of `4490 over the next 14 - 21
sessions. The stop loss should be fixed at `4170.
Rajesh Bhosale
022-3935 7600 Extn: 6844
1
September 07, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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