ITC – Sell on Rise | Major Support Zone Ahead

📉 ITC – Sell on Rise | Major Support Zone Ahead
Stock: ITC Ltd
Timeframe: Daily
Trend: Bearish (Short-term)

🔍 Technical Analysis
ITC has decisively broken all major support levels, indicating a clear shift in market structure from sideways to bearish. The recent breakdown is accompanied by weak price action, suggesting sellers are in control on rallies.
Post breakdown, the stock is now below key moving averages and struggling to reclaim lost support zones, confirming a sell-on-rise structure.

🔻 Trend Structure
Breakdown of multiple supports
Lower highs formation on daily timeframe
Pullbacks likely to face selling pressure

🔻 Volume Behavior
Breakdown occurred with expanding volumes
Indicates distribution, not panic selling
Any bounce without volume likely to fail

🟢 Strong Buy Support Zone (High Probability Demand Area)

📍 ₹280 – ₹295 zone
This zone is technically important due to:
Fibonacci 0.50 retracement level
Anchored VWAP support
Prior price acceptance area

This zone is expected to act as a strong demand zone where buyers may attempt a reversal or consolidation.

🧠 Trading Plan

🔹 Sell on Rise
Look for rejection signals near broken supports
Avoid fresh longs above resistance until structure improves

🔹 Buy Only at Support
Aggressive longs only if strong price reaction is seen in ₹280–₹295 zone
Look for:
Bullish reversal candle
Volume expansion on bounce
Failure of price to sustain below VWAP

⚠️ Risk Management
Avoid positional longs until price reclaims key resistances
Keep strict stop loss below support zone if attempting counter-trend longs
This is a zone-based trade, not blind buying

📌 Conclusion
ITC remains bearish in the short term and is best approached with a sell-on-rise strategy. A meaningful buying opportunity may emerge only near the ₹280–₹295 strong support zone, supported by Fibonacci 0.50 and Anchored VWAP confluence.

📉 Trade the trend. Respect levels. Manage risk.