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ipuneet
Sep 29, 2019 4:42 PM

ITC is looking ready for an upmove. Long

ITC LTDNSE

Description

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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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.
Comments
muruganperumal1991
Great work!
Sarsans
Good chart read. Got 3 points in 260 CE .
Thanks. Keep the good work going.
ipuneet
@Sarsans, wow, I am happy for you sir. wish a lots of profitable trades going forward.
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