The famous Biriyani price large cap stock. The potential to give Biriyani to the investors. We all witnessed how the famous ITC meme stock shot up. after breaking out of the famous 200–220 range. Now it's back to the range. Even though we all know we are officially entering the correction phase. looking at the chart, the current level looks good technically.
ITC 200 to 220 level is a very important consolidation range; we only need to be concerned if the ITC falls below 200; otherwise, it is good to average in this correction phase. In the daily time frame, it respects both the trend line and the fib line. It is now nearing 0.5% in the fib line. Any change in sentiment in the NIFTY50 can be expected to have an impact on the ITC. Many analysts are bullish on the stock. But the stock price was dragged down by the disappointment of the analyst meeting. Keep ITC on your radar and the support levels. However, because we can include this stock in our long-term portfolio at a reasonable average price,
@jaiminp697, As the market begins to recover following the huge correction, you can take advantage of the opportunity to average some of your favourite long-term investments. However, make certain that they are fundamentally sound.
ucanmaildamodhar
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Good analysis. Stuck in ITC call option. any suggestions
Manuadarsh
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@ucanmaildamodhar I don't think I can make any suggestions without knowing what strike price you entered and whether you sell or bought the option. Personally, I do index option selling.
ucanmaildamodhar
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@Manuadarsh Sir bought 220 CE 3 lots with an avg of 3.6. CMP is 1.5
Manuadarsh
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@ucanmaildamodhar, Sir, Today we can expect a clear picture of Nifty. I would suggest any pullback is better to exit with happy losses. We can see multiple resistances and all the major support taken out. expiry soon. Please don't forget to share how you are going to manage the position. I am curious to know.