As said earlier to go short below 435, But ITC bulls didn't gave up and holded to it's neck line. Today ITC closed at 443 making range of 7 points only for last 7 days. In previous trading in June ITC had made same pattern (see green horizontal line).
Conclusion
Range had narrowed down, so break above or below is immennient.
After narrow trading range it expands, this will mak ITC volatile.
Entry is clearly visible , sell below today's low with today's high as SL and buy above 446 wit 437 SL.
Caution : Sellin is in F & O so if SL triggered the loss is 1600 x 8 . and if hit trgt of 385 then profit is 1600x 50. Risk reward ratio is 1:6
If buy is triggered then one can buy in cash.
Conclusion
Range had narrowed down, so break above or below is immennient.
After narrow trading range it expands, this will mak ITC volatile.
Entry is clearly visible , sell below today's low with today's high as SL and buy above 446 wit 437 SL.
Caution : Sellin is in F & O so if SL triggered the loss is 1600 x 8 . and if hit trgt of 385 then profit is 1600x 50. Risk reward ratio is 1:6
If buy is triggered then one can buy in cash.
Comment:
Buy is above 446. ITC reached @446.5 but came down and trading @444.Hold doesn't initiate long as it has not given proper direction. Trade is only if it trades above 446.
