aryanamar

WHY IS EVERYONE GIVING A BUY RATING FOR ITC ?

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NSE:ITC   ITC LTD
Off course the fundamentals are great but with so many firms giving advice and buy call for itc , I thought why so? I studied the chart and saw that itc is trading near 1 year strong resistance trend line . Some days ago, due to high dividend given by itc it crossed this line but again started trading under this trend line . If it crosses this resistance then next we will look at 1/3rd and 50% retracement level as target for upcoming days. I have drawn support and resistance lines for positional traders. As it could make big move at any time so keep your eyes on itc , if it again gets resistancce at this trend line then it could possibly move down to 1/4th retracement level. An intraday chart will be provided soon.

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