The CEO of the company was featured in an Indian Business magazine, in a very laudatory article. It is a widely held belief that such articles herald the beginning of the decline in the company's business, portended by stock price.
Britannia Industries stock has been a laggard in the massive rally in the last 2-3 months. In fact, it broke down below the resistance and is currently trading in another box, which overlaps the previous box.
It is also trading below its flat-ish 30 WMA.
As an when the winter comes to the stock markets, this stock is likely to crumble. Mark it out as a short candidate.
Britannia Industries stock has been a laggard in the massive rally in the last 2-3 months. In fact, it broke down below the resistance and is currently trading in another box, which overlaps the previous box.
It is also trading below its flat-ish 30 WMA.
As an when the winter comes to the stock markets, this stock is likely to crumble. Mark it out as a short candidate.