BRI­TAN­NIA

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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.

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