akshay.lakhina
Long

ITC Long Setup

ITC (NSE:ITC)  
NSE:ITC   ITC
ITC             showing positive divergence with RSI and already started moving UP, should fly once it crosses 272 levels
SL 247 CB            

Targets = it may go back to previous peak levels
Trade active: Trade Idea (for Study Purpose)

ITC Dec 270 CE Sell at 2.85
ITC Dec 260 CE Buy at 6.6
lot size - 2400
Max loss Rs 9000 if stays around 260
Max Profit 15000 if stays above 270
Trade active: Hedge trade gave good profit when ITC went in our favor however as it turned down still not much of loss so far

ITC 270 CE now at 1.8
ITC 260 CE now at 4.65
Trade active: again moving in our direction so Bull call spread in profit now
Trade active: staying above 260 still
Trade active: now trading above 270 levels, looking good to go back to previous peak levels, 310 320
Trade active: 282 high so far, keep trailing
Trade active: After making high of 290, ITC traced down to 250 odd levels however our SL is still intact so one may go Long with previous levels especially in cash for positional
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