ITC is currently trading at support zone of 400-410 levels & It is consolidating here since 5-7 days.
I am seeing a trading opportunity here.
I am taking long position in ITC march futures at CMP 407.
I will add more position if 402-404 comes.
My stoploss would be 397.
Target would be 425.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purpose. Thanks!
Trade active
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added more at 402.
Holding long position with 398 SL.
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CMP 415
3.10 % in profit.
Long position open & holding with 405 stoploss.
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CMP 411
Trading in a small range.
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CMP 408
Trading sideways but didn't hit neither SL nor target.
Expecting to hit target soon.
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adding huge position in ITC 420 CE
CMP 4.10
Expecting it to get 2x-3x by next week. will exit if ITC goes below 400.
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ITC 420 CE CMP 8.50 From 4.10 to 8.50 2x move done. booking CE here :)
Future is just 5 rupees away from target.
Trade closed: target reached
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Trade closed: target reached
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ITC 420 CE CMP 20
from 4.10 to 20
although I booked at 2x only, It's now 5x from my buy level. This is what I was expecting. :) Future at 439.
440 minimum sud go.. First swing.. 419-420 2nd swing 429-430 If gaps up above 420 on Monday.. Then no stop on that day.
akshit_official
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@MDMarine It will gap up on monday definitely and will give a good upmove. I’m very sure about the fact that it must give a very good move in coming week.
MDMarine
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yes.. m expecting it as well.. check bajfinance as well.. lemme know ur view if u r comfortable
akshit_official
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@MDMarine Bajaj Finance is at a good level for long term investment. So, looking good for long term investment. If it comes at 5900-6000 levels, It will give a great trading opportunity for a long trade.
Shyamwin
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chances of reversal at 390 and 380...so maintain strict SL at 397..or wait proper W pattern at current levels around 410
Shyamwin
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Currently wedge bottom high chances of breaking down
@ananadraosuryawanshi I’m holding my future position for 425 target. Currently my future position is in 2.5% profit and 420 CE is almost 80% in profit. :)