Britannia - Keep On Watch
CMP 4575 on 04.03.25
The price movement has made a head & shoulder-like pattern in recent sessions and showed a breakdown of the pattern.
Also, the price has fallen to a crucial projection level that has acted as a support in the last 5 years. If it breaks down and sustains below this level, a bearish move may be seen.
Downside targets may be 4150/3800 or even more.
This setup remains active if the price sustains below 4700. Above 4820, setup will go weak.
One should keep the position size according to the risk management.
All these illustrations are only for learning and sharing purposes, not a buy or sell recommendation in any form.
All the best.
The price movement has made a head & shoulder-like pattern in recent sessions and showed a breakdown of the pattern.
Also, the price has fallen to a crucial projection level that has acted as a support in the last 5 years. If it breaks down and sustains below this level, a bearish move may be seen.
Downside targets may be 4150/3800 or even more.
This setup remains active if the price sustains below 4700. Above 4820, setup will go weak.
One should keep the position size according to the risk management.
All these illustrations are only for learning and sharing purposes, not a buy or sell recommendation in any form.
All the best.
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