ITC LTDLong
ITC's Key Support & Resistance: Trade Smartly!
Current Scenario:
• ITC is currently trading at ₹429.05, showing signs of consolidation.
• The stock has tested the support level twice (T1 and T2), indicating strong support around ₹402.90.
Key Levels:
• Entry Point: ₹416.25
• Stop Loss: ₹402.90
• Target Levels:
• Target 01: ₹437.90
• Target 02: ₹444.70
Analysis:
• The stock is forming a pattern where it respects the support level, which could be a good opportunity for a bullish entry.
• The previous low and support touches suggest that buyers step in around these levels, providing a safety net for long positions.
Trading Strategy:
• Bullish Scenario: Enter at ₹416.25 with a stop loss at ₹402.90. Look for the stock to move towards the first target of ₹437.90 and possibly extend to ₹444.70.
• Bearish Scenario: If the stock breaks below the stop loss level of ₹402.90, it might indicate further downside risk. In this case, it’s advisable to exit long positions to prevent losses.
Conclusion:
• ITC is showing a well-defined support and resistance structure, offering clear entry and exit points.
• Traders can leverage these key levels to strategize their trades effectively, minimizing risk while maximizing potential gains.
Keywords:
• ITC Stock
• Technical Analysis
• Support and Resistance
• Trading Strategy
• Entry Point
• Stop Loss
• Target Levels
• Market Analysis
• Stock Trends
• ITC is currently trading at ₹429.05, showing signs of consolidation.
• The stock has tested the support level twice (T1 and T2), indicating strong support around ₹402.90.
Key Levels:
• Entry Point: ₹416.25
• Stop Loss: ₹402.90
• Target Levels:
• Target 01: ₹437.90
• Target 02: ₹444.70
Analysis:
• The stock is forming a pattern where it respects the support level, which could be a good opportunity for a bullish entry.
• The previous low and support touches suggest that buyers step in around these levels, providing a safety net for long positions.
Trading Strategy:
• Bullish Scenario: Enter at ₹416.25 with a stop loss at ₹402.90. Look for the stock to move towards the first target of ₹437.90 and possibly extend to ₹444.70.
• Bearish Scenario: If the stock breaks below the stop loss level of ₹402.90, it might indicate further downside risk. In this case, it’s advisable to exit long positions to prevent losses.
Conclusion:
• ITC is showing a well-defined support and resistance structure, offering clear entry and exit points.
• Traders can leverage these key levels to strategize their trades effectively, minimizing risk while maximizing potential gains.
Keywords:
• ITC Stock
• Technical Analysis
• Support and Resistance
• Trading Strategy
• Entry Point
• Stop Loss
• Target Levels
• Market Analysis
• Stock Trends
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