SUMMARY:- -stocks tends to have sharp ralies in the direction of the brekaout -it is a continutation pattern -delivery volumes and open interest data also support -rising volumes after brekaout actually help support pattern -itc has actually broken above 273 on weekly basis that is a good sign -273 was acting as a major hurdle for the stock -since we have achieved a close on both weekly and daily chart -itc will now use 273 as support -once we break above 276 we should see 282-283 in short while -once we have achieved a close above 285 we will move towards 291-295 zone -since 300 will act as crucial resistance for the stock -a close above 300 simply means a move towards 320-330 zone -it will be very interesting to see what happens in the resistance zone of 320-330 -we have seen two top island reversal pattern in the zone from were stock has fall 40%-to-70% -difference in itc future and spot price is due to discount in of dividend
weekly chart spot and futures
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