ITC LTDLong
ITC - Explosive Breakout is need to be witness
Updated
Hi Friends,
We are now going analysis the ITC Ltd!!!
ITC was in the consolidation phase for more than 9 Months.
Let Analysis the possibilities:
1. Script was in the consolidation phase.
2. Script Volatility was being Flat.
3. Script was in the descending triangle pattern
4. EMA 200 was flatten from downtrend
5. MACD in Hightime frame i.e. Weekly was flat.
6. Stochastic RSI in Daily and 2HR time was in Oversold region. In weekly TF it was nearing Oversold Region
7. The script was in the Support Zone with Strong Buildup.
Overview:
As per our analysis, the script breaks the Triangle pattern . The script may witness the huge move.
As per our though we call this script will be brakes in bullish side.
Hence, we can go Long once the breakout happens with small quantity and once pull back (like Bull Flag etc) or Retest we can add the script (For Conservative People)
For Aggressive and for good Risk to reward:
We can go Long now with value of 199-203
SL - 199 - 1ATR.
EMA
https://www.tradingview.com/x/NjREmGM4/
Stochastic RSI
https://www.tradingview.com/x/p8ZvhPfd/
ATR
https://www.tradingview.com/x/KTbF6CvB/
MACD:
https://www.tradingview.com/x/LvhCEIJl/
Consolidation Phase:
https://www.tradingview.com/x/UbIx50Ar/
If like our idea, Like us and support us.
We are now going analysis the ITC Ltd!!!
ITC was in the consolidation phase for more than 9 Months.
Let Analysis the possibilities:
1. Script was in the consolidation phase.
2. Script Volatility was being Flat.
3. Script was in the descending triangle pattern
4. EMA 200 was flatten from downtrend
5. MACD in Hightime frame i.e. Weekly was flat.
6. Stochastic RSI in Daily and 2HR time was in Oversold region. In weekly TF it was nearing Oversold Region
7. The script was in the Support Zone with Strong Buildup.
Overview:
As per our analysis, the script breaks the Triangle pattern . The script may witness the huge move.
As per our though we call this script will be brakes in bullish side.
Hence, we can go Long once the breakout happens with small quantity and once pull back (like Bull Flag etc) or Retest we can add the script (For Conservative People)
For Aggressive and for good Risk to reward:
We can go Long now with value of 199-203
SL - 199 - 1ATR.
EMA
https://www.tradingview.com/x/NjREmGM4/
Stochastic RSI
https://www.tradingview.com/x/p8ZvhPfd/
ATR
https://www.tradingview.com/x/KTbF6CvB/
MACD:
https://www.tradingview.com/x/LvhCEIJl/
Consolidation Phase:
https://www.tradingview.com/x/UbIx50Ar/
If like our idea, Like us and support us.
Note
ITC was forming in inverted H&S in uptrend Trade active
Trade is active and bought at 206.25 on 30-Aug-2021SL - 196.20
Disclaimer
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