ITC - Count Seven & Go To Heaven (Wave Analysis)

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Once Seven Waves are done on the upside- structure completes & Next larger degree wave could start soon for ITC which most probably points to the downside direction but as a trader, we have to put proper risk management to get a maximum advantage (check trading strategy mentioned below)

Importance of Number Seven

Number 7 came from - Seven headed flying horse - "Uchchaihshravas" was obtained during churning of milk ocean (Samudra Manthan - as suggested Hindi)

Horses signify
  • Seven days in a week
    Seven sages called Saptarishi
    Seven colours of the rainbow
    Seven Chakras of Yoga

Last TradingView Status Update
11:36 Hrs / 9th July 2020 - ITC Stock Update - Please check last idea-"Bearish Gartley" Suggested Buy above 195 for 200 & 205-207. We can repeat the same strategy again. Strictly Buy Above 195 for 200 & 205 upsides or Sell Below 194. Thanks

TradingView Profile Page for Previous “ITC” stock ideas

Trading Strategy

Plan A
Strictly holding above 195 – look for Target 1- 200 & Target 2 – 205/207 which is valid & open only if the stock crosses above 200 & holds – that means it should not slip or fall below 200 level

Plan B

Strictly Selling below 194 for Target 1 – 190/191 & Target 2 – 185 open or valid if stock slips below 190

Plan C

No trade zone or strictly avoid any trading between 194-195 zone & Execute Plan A or Plan B according to the price movement

Plan D ( Long Term Analysis)


Scenario – Reaches close to 209 & fails to cross on the upside then sell or if crosses above 209.50 then sell later – Target 1 – 180 / Target 2 (Strictly Below 180) for 157-158 / Target 3 – (Strictly Below 157-158) – 135 which is final target downside

Thanks for watching the idea. Take Good Care of Yourself & dear ones. Good Night

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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