Britannia Industries Limited Stock Forecast
Green day on Friday for Britannia Industries Limited stock after gaining 0.83%
(Updated on Jun 28, 2024)
The Britannia Industries Limited stock price gained 0.83% on the last trading day (Friday, 28th Jun 2024), rising from ₹5,430.30 to ₹5,475.55. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.36% from a day low at ₹5,416.25 to a day high of ₹5,490.00. The price has risen in 7 of the last 10 days and is up by 1.79% over the past 2 weeks. Volume fell on the last day by -142 thousand shares and in total, 216 thousand shares were bought and sold for approximately ₹1.18 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 16.74% during the next 3 months and, with a 90% probability hold a price between ₹6,136.43 and ₹6,625.28 at the end of this 3-month period.
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BRITANNIA.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -0.765%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Britannia Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹5,383.73 and ₹5,294.19. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Britannia Industries Limited stock
Britannia Industries Limited finds support from accumulated volume at ₹5,325.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹73.75 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: ₹5,275.79 (-3.65%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 31 days ago.)
Trading Expectations (BRITANNIA.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Britannia Industries Limited to open at ₹5,460.60, and during the day (based on 14 day Average True Range), to move between ₹5,369.81 and ₹5,581.29, which gives a possible trading interval of +/-₹105.74 (+/-1.93%) up or down from last closing price. If Britannia Industries Limited takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹5,486.65 (0.20%) than the support at ₹5,325.10 (2.75%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Britannia Industries Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Britannia Industries Limited stock to perform well in the short-term.
Current score: 4.577 Buy Candidate Unchanged
Predicted Opening Price for Britannia Industries Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹5,460.60 ( 0.273%) | ₹5,475.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BRITANNIA.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5,534.35 | 1.07% |
R2 | 5,506.18 | 0.559% |
R1 | 5,488.77 | 0.241% |
Price | 5,475.55 | |
S1 | 5,432.43 | -0.788% |
S2 | 5,415.02 | -1.11% |
S3 | 5,386.85 | -1.62% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5,517.75 | 0.771% |
R2 | 5,488.40 | 0.235% |
R1 | 5,486.65 | 0.203% |
Price | 5,475.55 | |
S1 | 5,325.10 | -2.75% |
S2 | 5,173.85 | -5.51% |
S3 | 5,061.60 | -7.56% |
BRITANNIA Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 05, 2024 | Aug 05, 2024 | Sep 11, 2024 | ₹73.50 | 1.34% |
2 | Apr 13, 2023 | Apr 13, 2023 | Apr 13, 2023 | ₹72.00 | 1.69% |
3 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | ₹56.50 | 1.54% |
4 | Jun 20, 2022 | Jun 20, 2022 | Jun 20, 2022 | ₹56.50 | 1.67% |
5 | May 25, 2021 | May 25, 2021 | May 25, 2021 | ₹12.50 | 0.363% |
FAQ
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