Vilas_Stocks247

ITC for Investors & positional traders

Long
NSE:ITC   ITC LTD
ITC for Investors & positional traders
looking at monthly chart,
Price Movment : after covid market crash ITC respected almost 9yr old monthly trend line and made a base for uptrend again by forming HH & HL on monthly time frame.
Volume : at the same time after covid dip monthly volume is also increased almost more than twice compare to past few years before covide dip.
looking at monthly volume definitely Accumulation of ITC stock is going on.
Wave study : if we talk about waves bullish breakout of recent down trend line may end corrective wave 2 and head us towards wave 3 which generally calculated as 1.6 times the wave 1 (previous uptrend) from the price point of covide fall, price dip.

Very good opportunity for Investors.

Trade/Investment Execution can be as below
Buy @ Current levels (any price above 200 to 225 )
STOP LOSS : 190
Target : T1 270, T2 320, T3 360, T4 - depend on future price moment (generally 1.6 times of wave 1 )

Disclaimer : this is just a study on stock investment idea, please do your own research to understand price movement, Always Respect STOP LOSS in case trade/investment tern in a loosing trade/investment.

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