I am holding shares of Britannia at Rs 4350. The stock has not moved at all. So what do I do now? - Aziz Ali
HOLD BRITANNIA WITH A STRICT STOP LOSS OF RS 4150
Britannia is currently trading at Rs 4558. Its 52-week high/low stand at Rs 4408.55/ Rs 2776 made on September 18, 2017 and December 23, 2016, respectively, which depicts an uptrend. Considering the daily time frame, the stock seemed to have halted at the current levels where it has been consolidating since August 2017. The recent ticks were quite volatile with higher volumes and the 14-period RSI quoting at 61 which suggest momentum. Hence, we suggest you to hold the stock for now and wait for an upside. The stock has an upward sloping trendline breakdown at Rs 4270-4230 and the support is at Rs 4150.