Britannia Industries – BRITANNIA (1D Chart) Elliott Wave Analysis

BRITANNIA  Elliott Wave Technical Analysis

Function: Larger Degree Trend Higher (Intermediate degree, orange.)

Mode: Motive

Structure: Impulse/Diagonal

Position: Minute Wave ((iv))

Details: Minute Wave ((iv)) Navy might be unfolding within Minor Wave 3 of Intermediate Wave (5) against 5950.

Invalidation point: 5730

Britannia Industries Daily Chart Technical Analysis and potential Elliott Wave Counts

Britannia Industries daily chart is indicating a progressive rally, which could be unfolding Minor Wave 3 Grey, within Intermediate Wave (5) Orange towards 7050 at least and up to 8000 levels going forward. The stock should ideally stay above 5730-40 range to keep the bullish structure intact.

Britannia Industries has been rallying since November 2023 after printing lows around 4300-50 range, terminating Intermediate Wave (4) Orange. Furthermore, Minor Waves 1 and 2 Grey seems to have terminated around 5170 and 4650 levels respectively.

Minor Wave 3 Grey has been unfolding against 4650 mark and is sub dividing within a potential impulse. Minute Waves ((i)) through ((iv)) might be complete and Minute Wave ((v)) might be underway higher soon. The stock should hold above 5740 mark for impulse to complete.

Britannia Industries – BRITANNIA Elliott Wave Analysis (4H Chart)

Function: Larger Degree Trend Higher (Intermediate degree, orange.)

Mode: Motive

Structure: Impulse/Diagonal

Position: Minute Wave ((iv))

Details: Minute Wave ((iv)) Navy might be unfolding or near to complete within Minor Wave 3 of Intermediate Wave (5) against 5730. If correct, Minute Wave ((v)) could resume higher towards 7060.

Invalidation point: 5730

Britannia Industries 4H Chart Technical Analysis and potential Elliott Wave Counts:

Britannia Industries 4H chart is indicative of potential Minute Wave ((v)) Navy complete around 5910 mark at the time of writing. If correct, the stock should progress higher from here, as Minute Wave (v) of Minor Wave 3 resumes.

Technical Analyst: Harsh Japee

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

Previous: Tech Mahindra – TECHM Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Conclusion:

Britannia Industries appears positioned to push higher from the 5910 low recorded on October 14, 2024. The next phase—Minute Wave ((v)) of Minor Wave 3 Grey—seems ready to unfold, further supporting the bullish trend toward higher levels.