ITC is taking support on a trending with a triangle.
Long Positions can be considered either around 253-4 or once it crosses the upper trend-line i.e. above 255, Target over 260.
251 (on day closing basis) should be the stop for long positions.
Logic is reversal from the lower trend line, support on CCI and trend-line support on RSI too.
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Long Positions can be considered either around 253-4 or once it crosses the upper trend-line i.e. above 255, Target over 260.
251 (on day closing basis) should be the stop for long positions.
Logic is reversal from the lower trend line, support on CCI and trend-line support on RSI too.
Please consider liking this idea / post if you find it useful and worthy, you may follow me for periodic updates on #Nifty #BankNifty, #Silver or #Gold.
Trade closed: target reached:
But it is still strong, can reach 270 in a day or two. one can keep holding with a revised stop loss, that locks reasonable profit. 256 is a good level to use as stop loss.