Britannia: How to Identify Multibagger StocksJun 08, 2020
Britannia had been in secular bull trend for more than two decades. The stock has given exponential returns and even in the recent correction it has managed to move sideways with minor correction.
Britannia is one such stock that we recommended in our Multibagger research report based on various studies like Time cycles, Elliott wave, indicators which is giving 33% of return over one time.
Below is the chart and study on how we identify this stock published under Multibagger report
Britannia weekly chart: (Anticipated as on 10th June 2019)
Britannia weekly chart: (Happened as of now)
(Following research is taken from Multibagger report published on 10th June 2019)
Multibagger stock recommendation: Britannia
Buy Price – Buy at CMP 2950 and more on dips to 2600
Time Horizon –2 to 3 years
Investment – 5% of capital
Target price – ??
Stop loss – ??
Anticipated as on 10th June 2019–
As shown on the weekly chart, the stock is now moving in wave (3) of III. Time cycles have worked out very well and the stock has bottomed out every 220 weeks. Within this uptrend we are seeing wave 4 currently on-going in the form of a Flat or a triangle pattern and post its completion wave 5 on upside should start taking prices towards … levels eventually.
In a nutshell, as the stock is in secular bull trend it can be entered at current price near 2950 and more on dips to 2600 levels. One can keep a stop loss of … which is near the wave 1 area. Move towards this will result into overlap. On upside we can expect prices to move towards … which comes near the upper end of the channel and also wave 5 projections to equality with wave 3 on log basis. However, one might need to extend the time horizon given the expensive territory in which Nifty is trading which can lead to systematic risk.
P.S- Levels are hidden purposely. Kindly use this research for study purpose only.
Happened as of now – The stock has been moving in sync with our expectation and currently quoting near 3513 levels. It has touched its new 52 week high near 3708 levels on 3rd June 2020. The up move has been strong and we expect prices to achieve its target of ….levels in coming months. The stock is giving a return in excess of 33% from the high made in over a years’ time.
The above analysis clearly shows how one can identify the stocks from positional investment perspective just with the help of Elliott wave, time cycles and other advanced indicators.
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