 "After a sharp dip in March 2020, Britannia has recovered almost vertically and made a new record high in July 2020")
Britannia Industries
Recommendation: Buy
Last Close: 3,631.65
Initiation range: 3,615-3,630
Target: 3,800
Stop loss: 3,520
Britannia has been among the top-performing FMCG counter for the last several years. After a sharp dip in March 2020, it recovered almost vertically and made a new record high in July 2020. It has been hovering in a broader range for the last six months while holding strongly above the support zone of the long term moving average(200 EMA) on the daily chart. Indications are in the favor of gradual recovery ahead. We thus advise accumulating in the given range.
Muthoot Finance
Recommendation: Buy
