ITC might present a short scalping opportunity to sell to a level of 233-234 levels. Current price - 236
Terminating wedge with exhaustion and divergences - underlying rationale.
NS
Comment:
ITC came down to 234.2 levels today, in-line with the hypotheses, and closing below 23.6 fib. retracement. As the price action broke below the upsloping wedge, volume expansion can be seen and further weakness would make it slide down to 233-231 levels - a high probability model.
Trade strategy:
Sell ITC Dec Futures
Stop loss: above 237
Target: 233-231
Reward:Risk::2:1
-CA.Nick
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Trade strategy:
Sell ITC Dec Futures
Stop loss: above 237
Target: 233-231
Reward:Risk::2:1
-CA.Nick