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vanathi
Jan 26, 2023 6:33 AM

ITC - Multi time frame analysis with multiple patterns 

ITC LTDNSE

Description

On daily time frame, price is breaking the trend line and sustaining it with volume. When most of the stocks were falling, this stock sustained. On weekly time frame price is consolidating within a triangle.

Buy above 342 with the stop loss of 338 for the targets 346, 352 and 360. Intermediate resistance is seen at 345 - 346. Price will be completing the rounding bottom pattern at 357 - 361 level.

So we can see the triangle consolidation, trend line break out and rounding bottom(forming) patterns on the chart in daily & weekly time frame. Do you see any other patterns? Write it in the comments section.

Trade active

Comment

T1 done.

Comment

T2 done.

Comment

What a move.
Comments
vineetsehgal4000
the same breakout was observed in nifty 3 days back i believe, look what has happened. ITC will correct to 300 levels.
vanathi
@vineetsehgal4000, Ok, we will see...
Naveen_Boga-Netha77
Target🎯 400 is possible in this..... ITC

This is my view, Not an advice.

Thank you.....
vanathi
@NaveenBoga, Right. Thank you for the comment.
AdhiSudalaissj
In One Hour i could see a rounded bottom .
vanathi
@AdhiSudalaissj, Thats right.
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