ITC is showing a strong technical structure near the ₹400–₹395 zone, which is acting as a solid support area on the charts. The stock has tested this zone multiple times and has managed to hold, indicating strong demand at lower levels.
Over the last several sessions, ITC was trading in a tight consolidation range, reflecting accumulation. Today’s close above this multi-day consolidation is a positive sign and suggests a potential breakout, with momentum now shifting in favor of the bulls.
The price action indicates that buyers are gaining control, and as long as ITC sustains above the breakout level and the support zone remains intact, the setup looks favorable for an upside move.
Trade Plan:
Buy: As close as 395
Stop Loss: ₹395
Target: ₹425
A close below ₹395 would weaken the structure, so strict stop-loss discipline is advised.
Trade with proper risk management.
Over the last several sessions, ITC was trading in a tight consolidation range, reflecting accumulation. Today’s close above this multi-day consolidation is a positive sign and suggests a potential breakout, with momentum now shifting in favor of the bulls.
The price action indicates that buyers are gaining control, and as long as ITC sustains above the breakout level and the support zone remains intact, the setup looks favorable for an upside move.
Trade Plan:
Buy: As close as 395
Stop Loss: ₹395
Target: ₹425
A close below ₹395 would weaken the structure, so strict stop-loss discipline is advised.
Trade with proper risk management.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.