techtrail

ITC: Not Bullish

Short
NSE:ITC   ITC LTD
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6
Price rejected at the upper parallel of the blue fork, which is a bearish sign.

The Magenta Fork is a "Reverse Medianline". It has a lot of touches, strengthening its validity.

I would look for the next buying opportunity, if at all, at the lower parallel of the Magenta fork or at the medianline of the blue fork.

If not, price at least has to reverse the recent sequence of lower highs and lower lows before I get interested on the long-side.

Comments

Hi

as i can see it's touching daily trend line.. so can i expect some down side from now
Reply
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