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
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ