imdbeststocktrader

ITC LTD Support and Resistance Level

BSE:ITC   ITC LTD
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ITC LTD Support and Resistance Level

I have marked most obvious and recent Support and Resistance level for the script ITC Ltd.

Orange Lines - Monthly Support/Resistance Lines
Blue Lines - Weekly Support and Resistance Lines
Fluorescent Green Lines are - Daily Support and resistance line.

In the price bar on the right hand side you will the price in respective colour code

Monthly Weekly Daily
49.51 211.10 182. 40
73.95 220.79 190.47
87.41 239.79 197.57
102.46 253.28 214. 40
119.42 231.68
127.90
141.58
153. 40
163.25
205.38
216.39
228.49
236.20
247.76
266.07

A good way to qauntify expectations following a price breakout is with the volume associated with the breakout. If price breaks through the support/resistance level with large increase in volume , it imples that the new expections will rule.

Conversly,if the breakout is on moderate volume , it implies that very few investors expetations have changed and a return to the original expaectations is warranted.


There are also lot of other factors that also comes into play

This is not a trade setup chart. This chart is just to display support/resistance level, ''price break through and volume relation.''



*****This Idea is Published for Educational Purposes Only*******

Comments

Thank you
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No worries.. Cheers ! :)
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Hi Anuurag,

Do let me know if you want me to look at any other scripts or you have any questions. I have publish four setups 3 setups are in the money and the 4th trade is active. I am going to share more setups which will help you and other traders.
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anuurag imdbeststocktrader
thank you.
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