Nikhil_Tripathi

Positional_ ITC

Long
NSE:ITC   ITC LTD
1. ITC can breakout from current range.
2. Higher Lows indicating a buying pressure.
3. Shrinking "price-range" is indication of momentum.
4. We can expect two targets of 226 and 237.
5. Upcoming result looks matter of caution.
6. SL and Entry will be decided afterwards.

Disclaimer: The views expressed in this article is of my own, you're solely responsible for any decision taken in the markets resulting in financial gains or losses. The analysis I've shared is just for informational and educational purposes only.
Comment: Decided the entry price today but it is giving dividend of ₹ 5.75 on 10 Jun, which is greater that my decided SL of Rs 4.25, hence skipped the entry for now.
Comment: New levels marked on the chart.

Comments

Best player to accumulate @ 200-205 with a target of 220+. Can also play covered call until the target is achieved for a constant monthly income.
Reply
Nikhil_Tripathi nitinnkssharma22
@nitinnkssharma22, If you can see, the Rs 200 level was already broken, it turned bearish but strong rally in Nifty lifted the sentiment. Can you tell me how you decided 200-205 levels? I am expecting huge momentum only at breakout.
Reply
BULLISH
Reply
Nikhil_Tripathi CHINMAYPANSARI
@CHINMAYPANSARI, Usually short-covering happens in stocks (if there were more "shorts") before the results. Therefore, stock moves higher a little bit. I am expecting huge momentum only at breakout.
Reply
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