Indus Towers Ltd

NSE :INDUSTOWER   BSE :534816  Sector : Telecomm Equipment & Infra Services

Indus Tower Ltd stock prices have been trading in the form of higher highs and higher lows formation since past 4 sessions. As per simple bar technique this indicates positive bias. Along with it prices manage to close above the upper Band Bollinger. As shown on the daily chart pattern, price has given a breakout out of Ichimoku cloud but closed below upper cloud hence buying may emerge if stock is able to give breakouts of its upper cloud again.

In short, INDUS TOWER has continued to trade in the positive zone. Now a move above 259.50 will confirm the uptrend and open up gates for higher levels towards 268. As far as 254 remains intact on the lower side.

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Britannia Industries Ltd

NSE :BRITANNIA   BSE :500825  Sector : FMCG

In the daily time frame of Britannia Industries, we are seeing the impulse wave pattern formation. Primary stage of wave 3 is ongoing on upside wherein wave 2 has completed near 3360 levels. As per Fibonacci projection, prices have started rising after taking support of 38.2% extension level and currently placed above 50% of Fibonacci support. Positive bias was made with the help of 200 EMA support.

In short, the trend for Britannia Industries Ltd looks to be positive for now. We can expect it to reach a target of 3735 levels based on our analysis. One can book partial profits near 3655 level to ensure risk is reduced and trail the stop loss of the remaining position at cost. This outlook is valid as long as 3542 level remains protected on downside.

Check More Analysis on BRITANNIA at: Britannia Industries Ltd