It is time again that we are hitting most of the checkboxes pretty much decently well. Nifty is showing signs of strength while trapping the innocent retails. FMCG and IT are my go sectors right now, and if I am talking about FMCG, I should mention NSE:ITC
The stock is at the daily support. The NIFTYFMCG index is around the trendline support too. When the markets are weak, FMCG is a safe sector. One can definitely long ITC for smaller to larger targets mentioned on the charts with the SLs mentioned on the charts too.
Be smart in your level selections. If you are going for 205.25 SL, make sure your Targets are reasonable too. Always trail SL to previous-2 target and go along for a target of 225, and then 240 in the short term.
1. Buy March Fut
2. SL as per your risk appetite. Best SL at 199.5, and Targets are 215 and 225 and 240 for me.
3. Don't fall into the trap of expected market fall. If you are an investor, stay away. If you are a trader, you shouldn't care about the news or sentiments. Take traders that have a great RR.
Disclaimer: I am not responsible for your profit/loss here and this is just for educational use only.
The stock is at the daily support. The NIFTYFMCG index is around the trendline support too. When the markets are weak, FMCG is a safe sector. One can definitely long ITC for smaller to larger targets mentioned on the charts with the SLs mentioned on the charts too.
Be smart in your level selections. If you are going for 205.25 SL, make sure your Targets are reasonable too. Always trail SL to previous-2 target and go along for a target of 225, and then 240 in the short term.
1. Buy March Fut
2. SL as per your risk appetite. Best SL at 199.5, and Targets are 215 and 225 and 240 for me.
3. Don't fall into the trap of expected market fall. If you are an investor, stay away. If you are a trader, you shouldn't care about the news or sentiments. Take traders that have a great RR.
Disclaimer: I am not responsible for your profit/loss here and this is just for educational use only.
Comment:
Once we cross 212, we can change the SL to 209.25 and keep holding for 218 target.
Comment:
Reversed from 199.8. SL at 199.5. Still holding.
