Buy Britannia Industries, says Sameet Chavan

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.