Britannia Futures – November 2018

CMP – 5400
Given below are the Monthly, Weekly and Daily charts of Britannia Futures

Note the following in the Monthly chart -

RSI - RSI is at 60 support on the monthly chart after 2 years

Fibonacci Retracement: Price is taking support at 38% Fibonacci retracement of the last rally.

BRITANNIA – MONTHLY CHART

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Note the following in the Weekly chart -

RSI – RSI is at 40 support on weekly chart, which is an important level to take support at.

BRITANNIA – WEEKLY CHART

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Note the following in the Daily chart -

RSI – RSI shows multiple divergences.

PRICE - There is price confirmation as the high of the Doji (indecisive candle pattern) is crossed to the
upside.

BRITANNIA – DAILY CHART

STRATEGY –

One can go Long on BRITANNIA at CMP with a stop below 5200 on a closing basis for upside
targets of -

FIRST TARGET – 5800

SECOND TARGET –6100

THIRD TARGET – 6300

Trade Duration – 4-6 Weeks

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