Do you remember we tried to label Elliot waves? If not, then look at the previous idea, will attach the link below.
I have always emphasized on entry, if your entry is great, even if your analysis is wrong it will not damage your capital much. And if your entry is horrible, then......... ;)
Talking about ITC, it is moving in a channel or bullish flag in smaller timeframes, breakout from the flag might open the doors for the mentioned target in the previous chart. But but, if it doesn't break, then it can penetrate deep in the support around 207 levels. I might look for that level to go long if falls in my setup.
There is heavy chance that it might take support around 207 as if breaks that support then it can fall deeper towards 196 as other support might not be much more reliable.
I don't understand technical analysis. But if the stock falls below Rs 200 for technical reasons I'll buy couple of thousand ITC as I have some profit money from stock sales.
And, data analysis is just creating confusion for the lay investor.
kindPie
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A sincere person shall never get agitated 'se his main thesis is to present his viewpoint & not to get agitated _ & that too unprovoked_ whenever & wherever there's any disagreement on any subject.
Please have patience as everyone has a right to disagree.
yogi_sharma_elliottician
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@kindPie, absolutely everyone has a right to disagree, but I said about the assumption, not disagreement. You have missed the point of my previous comment. And I am a swing to intraday trader, people who are following me know this well. This is a public platform, and we should respect each other's opinion that was my whole point.
kindPie
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Stay away - you plain hearted simple investor. Better, let each one of us make our own judgements based on our personal observations.
kindPie
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He continues to befool by posting his side's of the imaginative stories.
yogi_sharma_elliottician
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@kindPie I understand your pain and feeling, relax. My tradingview family can take their own decision. Also, I hope next time before making assumptions about anyone you see their all the charts and analysis. Thank you! :)