~~Personal views on ITC LTD~~
Long on ITC for short to medium term. Price is taking support at the new trend line (Purple Trend Line ) and has given breakout on the previous descending trend line . I have used simple trend line analysis on daily time frame along with RSI and MACD indicators. RSI and MACD showing good strength with good volume . RSI going up with the price action following the trend line . Price is well above all moving averages and showing good strength. 20D SMA crossing 50D SMA on daily time frame. Refer to the Fibonacci levels for immediate target and support. ITC releasing Q4 results tomorrow, hopefully with good dividend which will push the stock further up. Today’s volume was also more than previous weeks average volume .
~~Do your own analysis before investing~~
~~Feel free to share your views and learning’s~~
Long on ITC for short to medium term. Price is taking support at the new trend line (Purple Trend Line ) and has given breakout on the previous descending trend line . I have used simple trend line analysis on daily time frame along with RSI and MACD indicators. RSI and MACD showing good strength with good volume . RSI going up with the price action following the trend line . Price is well above all moving averages and showing good strength. 20D SMA crossing 50D SMA on daily time frame. Refer to the Fibonacci levels for immediate target and support. ITC releasing Q4 results tomorrow, hopefully with good dividend which will push the stock further up. Today’s volume was also more than previous weeks average volume .
~~Do your own analysis before investing~~
~~Feel free to share your views and learning’s~~