Buy Britannia Industries, says Sameet Chavan

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Sameet Chavan

Britannia Industries - this FMCG giant has been a steady performer since the last many years. Of late, we witnessed a consolidation in this counter which can be termed as a ‘Price correction’ and was overdue for a long time.

Last week, we saw some buying interest coming back into the stock and in the process; it has managed to surpass the ‘Falling Trend line’ placed around 3180.

This is a sign of strength and going ahead, we expect the stock to resume its long term uptrend soon. Hence, one can look to go long for a target of Rs 3460 in coming days. The stop loss can be placed at Rs 3060.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.