 "Q2 company results")
Britannia Industries Limited (BRITANNIA)
Outlook: Needs to sustain above Rs 3,500 levels.
The overall trend for the stock is exhibiting weakness, as per the daily chart. The immediate resistance comes at Rs 3,750 and Rs 3,800 levels. Any downside move, wherein the stock fails to show signs of recovery after trading below Rs 3,540 may trigger aggravated selling pressure at the counter. The following sell-off can pull down the stock towards of Rs 3,300-level. The Relative Strength Index (RSI) needs to cross 50 value decisively to attract the interest of market participants on the bullish side.
Outlook: Needs to sustain above Rs 3,500 levels.
The overall trend for the stock is exhibiting weakness, as per the daily chart. The immediate resistance comes at Rs 3,750 and Rs 3,800 levels. Any downside move, wherein the stock fails to show signs of recovery after trading below Rs 3,540 may trigger aggravated selling pressure at the counter. The following sell-off can pull down the stock towards of Rs 3,300-level. The Relative Strength Index (RSI) needs to cross 50 value decisively to attract the interest of market participants on the bullish side.
