4th base taken out. This is a relentless rally in ITC - now the top performing Nifty 50 stock by a long margin. It reminds me a lot of TESLA in 2020 - is ITC the TESLA of India?
Disclaimer - Trading stocks is risky (F&O is even riskier). 95% of traders as per SEBI statistics lose money - with 60% losing most of their capital in 12 months. So, the odds are stacked against anyone trying to make a living in the markets. All the ideas here for education & analysis only. Please do your own research before risking your capital.
- Mutual Funds are buying the dip - they know this stock is the top performer and want in
- We have made 4 bases since the rally started at 300+ in 1 year. Thats unique. Usually the 4th base fails
- Institutional ownership has increased and the stock has touched the 21 EMA only a few times in 12 months. 50 EMA - hasnt even come close
- Buying back in at 480 now - lets see how long this party lasts. If it pops below 21 EMA on volumes - am out!
Disclaimer - Trading stocks is risky (F&O is even riskier). 95% of traders as per SEBI statistics lose money - with 60% losing most of their capital in 12 months. So, the odds are stacked against anyone trying to make a living in the markets. All the ideas here for education & analysis only. Please do your own research before risking your capital.
Order cancelled:
Its finally over - the ITC rally has finished and now leadership will pass onto some other name.
Best advice ever - Cut your position size by half.
