Bharti Airtel Airtel has been going down since it hit 620 in february. Clearly 620 seems to be major supply one for this one. But there is a window of opportunity at 520 with stoploss at 510, it might move to 620 with a little patience of course. Being in the middle of pandemic, I dont think Airtel which is one the huge beneficiary will go into free flow mode. But we need to have backup in case this thesis is wrong, hence stop loss at 510. The target is 620 which is the supply zone or resistance. Disclosure I do own Airtel at the time of writing this article. I will add more at 520 with stl at 510. I may sell the stock at 620 or before it.
Britannia was on a downtrend since July 2020. The high is about 3900 in July. Coming out of the lockdown since the biscuit consumption is going down , it is natural for the stock to go down steadily. Moreover the budget in Feb 2021 has introduced Agro cess which will effect Britannia. This may be passed to customers(I assume).Another good thing about Britannia is they buy future contracts for their raw ingredients. Which is to say they buy their products in advance. This will give them necessary cusion. Support at 3300. Sustaining above 3300 is important for the stock to move up. Below 3300 it will fall to 2900. A Right angle Descending triangle pattern will move in the same direction as the trend before it started to form. In this case, it is up trend. If there is huge volume on the downside after 3300 and the price is sustaining 3% below 3300, the stock will move down.