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 was being Flat.
3. Script was in the pattern
4. 200 was flatten from downtrend
5. in Hightime frame i.e. Weekly was flat.
6. in Daily and 2HR time was in Oversold region. In weekly TF it was nearing Oversold Region
7. The script was in the with Strong Buildup.
As per our analysis, the script breaks the . The script may witness the huge move.
As per our though we call this script will be brakes in side.
Hence, we can go Long once the breakout happens with small quantity and once pull back (like 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.
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SL - 196.20
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Disclaimer: Kindly do your own analysis before executing the trade or
Contact your financial advisor and I am not a SEBI Registered Analyst.
If this stock closes above 209 this week, then 215 ce can give you a good return. Just pay for it. Option buying opportunities always end up with a loss if the chosen scrip has short build up.