ITC, Fibonacci levels and resistance.

CMP-200.7, Fibonacci level(.618)- 209.25
it is approaching its trend line (marked as green) through which it was taking support multiple times. next big resistant is poised at 200DEMA which is at 209 level. multiple time it has attempt to crossed but failed. tomorrow it will cross it or not totally depends on results.
downwards support is at 198 level which on earlier time was a resistance.

note- I am invested in this script. any suggestions are welcome. i am also learning through sharing.


198-195 looks like a strong support range.looks like the move ll be decided by the results today. high probability of moving up on my opinion .But worried about the slump in cig sales and its effect on the result
+1 Reply
holding 5 lot @ 3.75 ...option trade 209.85 ce ..plz help with tgt ? wait for 220 tmrw!! what time result ..chart suggest good result likely!!
sks_saty Amitesh55667788
@Amitesh55667788 see, nobody can predict how results can turn out to be, going by the charts sentiments, results are likely to be better as many FMCG companies posted better results despite Covid19 situation. Also keep a close watch on option premium as the price may or may not reach 220 tomorrow but if it approaches 206-208 ur premium is likely to shoot, so exit based on ur profit expectations.
@sks_saty, thank !!
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