ITC is facing resistance in the zone 280-290 & Killroy could give boost to ITC if it moves above 300 else failure to move above 300 & dips below 265 can spoil the ITC party.
Killroy can fail if ITC dips below 265 keeping 290-300 zone intact as resistance.In that case possible retest of 220-225 later 200 & finally 175-180 zone which is nose bottom.
Moving above 300 & sustaining above 290 likely measures the depth of Nose shown by orange line as target distance which is 250-180 = 70 points added above 300 gives target 370
It had a fall below 280 for 270-271 - not a convincing fall -going below 265 we should get some clue else, bounce back cannot be ruled out.
We won't hurry here & look for a bounce from ITC & then decide what to do next.
Got the bounce from 271 as suggested in the last update above on 7th April2017
Closed at 279.
Abhishek H. Singh, CMT
Growth Director - India