 "RBL Bank has been consolidating in a range of Rs 160-195 levels for the last two months, after a sharp rebound from its record low")
Britannia Industries
Recommendation: Buy
Last Close: Rs 3,896.85
Initiation range: Rs 3,870-3,890
Target: Rs 4,200
Stop loss: Rs 3,740
Britannia has been among the top-performing FMCG counters for the last several years. After a sharp dip in March 2020, it recovered almost vertically and made a new record high at Rs 4,010 in July 2020. It’s currently hovering in a range while holding firmly above the support zone of short term moving average (20 EMA) around its record high. Indications are in the favor of prevailing consolidation to end soon. Traders should use this pause to accumulate the stock in
