In the previous session, the Nifty Index saw a negative opening in the morning session. The index rebounded at an important support level and recovered some losses as the day progressed. Later we saw consolidation throughout the day. The Index formed a Bullish Candle on the daily chart and closed with a net loss of 246 points. Traders should be focused on Sector and stock specific strategy for the next trading day.

 Look at the below research report of ‘Stocks to Buy for Tuesday, August 30, 2022’ before the market opens.

Britannia Industries Ltd.

In the daily time frame, stock is moving in the form of a ‘Inverted Head & shoulder’ pattern. The right shoulder completed near 3640 level. Recently, stock has given a breakout from the neckline of the pattern. Stock formed a strong bullish candle in the previous session. The 200 days Moving average is acting very well on the stock. In addition, the Relative Strength Index (RSI) on the daily chart is 51.45 indicate strength in the stock.

In a Nutshell, the trend for BRITANNIA looks to be positive now. Use dips as a buying opportunity for a move towards 3950/4270 levels as long as we do not see any closing below 3500 levels.

Check More Analysis on BRITANNIA at: Britannia Industries Ltd