“ Rounding bottom “ in ITC

Aug 13, 2020

For ITC 200 is a long term resistance , we can see that #bulls are continuously trying to break that resistance in last few days , this attempt of bulls forms a #trendcontinuation pattern Rounding Bottom in the charts of ITC . We can club this #Roundingbottom chart pattern with the #openinterest #OI concept , then we can found that 200 is one of the price range in the #optionchain of ITC . So this price range will act as a #strongresistsnce as well as a #strongsupport. So if there is a breakout happens from this 200 price range then ITC will fly high to 4 to 6 points. So we can consider as a good opertunity for entering a swing position after a strong breakout signal .