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Varthagam-Seivom
Jul 11, 2020 2:57 PM

Itc triangle pattern Long

ITC LTDNSE

Description

Currently itc triangle pattern formed...

Target and Stop loss mentioned in the chart
Comments
sardabowler
So as I said ITC will keep on going up next target tomorrow between. Rs. 199 ,,, Rs 203
Amitesh55667788
@sardabowler, 12 rs in next 5 trading session...as u can observe directional move 15days 20 points
rkasi2010
Mahes - Isnt this a descending triangle which has a higher possibility of a downward breakout?
Varthagam-Seivom
@rkasi2010, It is not mandatory that descending triangle should breakout downward..Some time it happens vice versa and it depends upon the price movement.. in my analysis, it should breakout upward.... below is the some of the example in my previous analysis... Below Axis bank and Nifty i have posted..
rkasi2010
@Varthagam-Seivom, Thanks Mahes! I have seen this happen (vice-versa) but, have been struggling to understand when it goes the other way. Nevertheless, it is a great learning from you, as always... :)
Varthagam-Seivom
@rkasi2010, welcome.. thanks for your support
Varthagam-Seivom
Varthagam-Seivom
Rsi is below 45.. so I will go upward only.. I am using RSI is only for additional confirmation...
Varthagam-Seivom
pankajjain19
@Varthagam-Seivom, same hear but my sl long side 188.25 tgt 200-208
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