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Hot Stocks | Britannia, Bharti Airtel, Elecon Engineering can fetch 12-28% return in short term. Here's why

Britannia Industries in the latest week has given a breakout of Inverse Head and Shoulder pattern, indicating beginning of the uptrend. The breakout is confirmed by the Higher volumes and a gap.

November 11, 2022 / 06:44 AM IST
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Todays L/H

On the weekly chart, prices are maintaining its higher high, higher low formation since the past seven weeks, illustrating bullish undertone of the Nifty50.

On the daily timeframe, the index is sustaining above its important level of 18,000 since last 2 weeks.

RSI (relative strength index) on the daily timeframe is sustaining above 60 mark, reflecting presence of strong momentum for an up move.

The Nifty has an immediate resistance levels placed at 18,350 (January 2022 high) followed by 18,604 (lifetime high) and on the other side, it has strong support level placed at 17,838 (Gap support) followed by 17,630 (Gap support).