Will a correction happen in ITC at least now ?
ITC broke the trend line with high volumes.
*It has been in uptrend without a proper correction for uite a long time.
For Intraday can short ITC CMP:327 - 328 with a Stop loss of 332.
If the trade goes in our way Targets will be
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
For Swing can short ITC CMP:327 - 328 with a Stop loss of 335 (Fib extension resistance area).
*It has been in uptrend without a proper correction for uite a long time.
For Intraday can short ITC CMP:327 - 328 with a Stop loss of 332.
If the trade goes in our way Targets will be
*Exit half Quantity 1:1 Risk/Reward Target and Shift to SL to cost
*Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL.
*Exit remaining with trailing Stop loss.
For Swing can short ITC CMP:327 - 328 with a Stop loss of 335 (Fib extension resistance area).
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