I tried multiple times to catch a breakout on ITC and it has had it's ups and downs. 1st position I built was on 1st June. I tried to be a little greedy with the possibility of a reward, chose Options. Bought 220 CE and ITC being ITC promptly retraced back below resistance, and pretty much wiped out the money in the position. The 2nd time I tried a month...
buy cmp with sl 1.60 % buffer buying in zone 206-207
ITC following the above patter for few weeks. In few days It will reach 215 easily. I am standing strong on bullish side.
ITC is forming Ascending triangle and Rectangle pattern. This post is for education purpose only.
sorry for uploading one day late!! but yeah those who followed were profitable!!
Off course the fundamentals are great but with so many firms giving advice and buy call for itc, I thought why so? I studied the chart and saw that itc is trading near 1 year strong resistance trend line. Some days ago, due to high dividend given by itc it crossed this line but again started trading under this trend line. If it crosses this resistance then next we...
Educational Purpose
It has formed a Bearish Harmonic Gartley which coincides with the Weekly/Monthly Ichimoku resistance alongwith highest OI in 200CE, It could retest 175/165. View negates above 196
In daily time frame ITC has made a Bearish Island Reversal. Even though the impact of this set up usually works after an uptrend, we cannot ignore the repercussion in the current scenario. Until it does not negate the bearish pattern AT 165 upside looks difficult. Above that a short term move till 200 where it has a massive monthly and weekly resistance. Downside...
IN A WEEKLY CHART WE CAN SEE TWO LONG TERM TREND LINES AS MENTIONED UPPER LINE HAS GIVEN THE STOCK RESISTANCE THREE TIMES SO FOURTH TIME STOCK SHOULD TOUCH IT AS GIVEN WITH ARROW FOR THIS, STOCK MUST CLOSE ABOVE HORIZONTAL LINE AND LOWER TREND LINE ON WEEKLY CHART HAS GIVEN SUPPORT THREE TIMES IF IT TAKES RESISTANCE FROM HORIZONTAL LINE IT MAY DIVE DEEP TO 243...