ITC -Sell In The Channel below 185-186 zone for 167

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Trading Strategy

Our Bias still remains a downside close to 190. Last update -It was mentioned -sell strictly below 176-177 - crossing 176-177 - stock pushed upside

Plan A - Safe Traders
They sell if stock slips below 185-186 zone for 165-167 target zone - book partial profits if you can't hold the market turbulence or you feel like booking profits

Plan B- Risky Traders
They buy if the stock holds & moves above 190 strictly for 194/196 zone upside where you need to careful as profit bookings can come & stock may start falling later

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Note

"Nifty / Auropharma updates have been put in last nifty idea - The Final Touch- Can we get 8700"

If read behind the lines & ask a question to yourself - why I picked the title - "The Final Touch" which was the continuation of sell from the highs of 9850 -previous ideas of Nifty- Wonder Waves Part 1/2/3 ideas & later selling channel tops at 9850"- you will get the answer for the recent rally which Index had from 9200 to 9500+

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Thanks & Have a nice weekend!

Trade active:

09:28 Hrs / 29th May 2020

Last Price @ 193.65

Risky Traders Target Touched -----------------------194 ----------Target Kissed! - Follow Trading Strategy Mentioned Above

Comment:

09:33 Hrs / 29th May 2020

Last Price @ 193.55

Trade active:

10:11 Hrs / 29th May 2020

Last Price @ 196

Market Gives Correct Sign - Passed - 2nd Target Achieved for Risky Traders. Enjoy Your Weekend.

Trade active:

10:46 Hrs / 29th May 2020

Last Price @ 195

Plan B ----------------------achieved & done completely at 196 -------Profit bookings can come & stock may slip from this zone if goes & holds below 195-196.

Kindly follow proper risk management for trading. Thanks & Have a nice weekend.

Trade active:

12:45 Hrs / 29th May 2020

Last Price @ 193.50

This would be the best trading day as upside booked at 196 (Plan B) & Selling started exactly at the tops @ day high-196.50

Kindly manage your risk while trading that is the important lesson -a trader should learn.

If Moves above 195-196 zone - Trader should avoid all sell positions & Just enjoy. Thanks

Trade active:

13:42 Hrs / 29th May 2020

Last price @ 195.65

As suggested earlier -------------All selling should be done only below 195-196 zone - Kindly avoid any trades if moves in 195-196 zone & go above.

Trade active:

14:52 Hrs / 29th May 2020

Last Price @ 196.85

Possible Wedge or Ending Diagonal - which suggest that structure could top out close to 195-196 zone

So, dear followers keep a watch as this could be lucrative trade for the week.

Kindly do not consider this trade if holds above 195-196 zone (strictly)

So selling below 195-196 zone only

Trade active:

15:18 Hrs / 29th May 2020

Last Price @ 197.45

It is advisable selling only next week below 195-196 zone as important zone with happy mind rather than carry positions in the volatile market.

Going above 200 - This idea gets invalidated & closed - where the review would be required for the next strategy.

Trade active:

15:22 Hrs - Day High @ 198

15:27 Hrs -

Trade active:

08:13 Hrs / 1st June 2020

As Asian Markets are Positive - Traders should look to sell below 195-196 zone or if you get a chance close to 200 that too post-observation that it halts below 200 marks.

Strictly ------------------------No selling --------------------------if crosses above 200 mark.

Trade closed manually:

09:44 Hrs / 1st June 2020

Last Price @ 201.50

Day High @ 205.50

Warning ------------------Warning -----------------Warning ----------Extremely Risky Trade-------

As suggested no selling if crosses above 200 mark. This pattern might have ended close to 205
But ---------------------I will not suggest selling to anyone if he cannot take the risk - Current trade is extremely risky with stops above 206 & Target downside is 185-186 zone