Britannia Share Price: Money making opportunity arises - here is what you can do as per experts' tips
Britannia Share Price: After hitting Rs 3,335.95 closing low in the last six months, Britannia share price history in recent period suggests that the counter has been on the rise after that.
Britannia Share Price: After hitting Rs 3,335.95 closing low in the last six months, Britannia share price history in recent period suggests that the counter has been on the rise after that. According to stock market experts, FMCG shares are on the rise as real estate stocks are also rising. They said that Britannia stock has immediate support at Rs 3,400 but if the level is broken then it may go up to Rs 3,200 to Rs 3,300 odd levels. They suggested stock market investors to accumulate Britannia shares at Rs 3,200 to Rs 3,300 levels if they have a long-term perspective. However, in a short-term perspective, they advised investors to maintain the stop-loss below Rs 3,400.
Speaking on the fundamentals supporting Britannia share price, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Real estate sector stocks are rising and are fuelling the FMCG stocks. The recent rise in Britannia share price should be seen from this angle too. Apart from this, company business is improving post-COVID-19 lockdown and some new product of the company is expected to be launched. So, this whole combination is helping the Britannia share price to go upward."
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On Britannia share price forecast; SEBI registered technical equity analyst Simi Bhaumik said, "Britannia share price chat in small and mid-term looks flat but for those who have long-term they can accumulate Britannia shares at Rs 3,200 to Rs 3,300 levels. Those who hold Britannia shares in the short-term perspective can maintain the stop loss below Rs 3,400 as it is the immediate support for Britannia share price."
Bhaumik said that one should not take any fresh buy position in the counter at Britannia share price today as it has strong resistance at Rs 3,500. She advised small-term investors to wait till Britannia share price sustains above Rs 3,500. She said that if the counter sustains above Rs 3,500 then it can go up to Rs 3,700.
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