NSE:ITC
Stock has turned back from critical support level.
Closed over 50 ema with bullish candle before results.RSI just crossed 60 so trend should continue.
Stock also closed over resistance trend line. If remain above the line then tgt is 190-200. Momentum also increasing as seen from MACD histogram.
Price forming a triangle pattern and currently it is rejecting from the top of the trend line and falling towards the bottom trend line. It is good to enter long when price reaches the trend line bottom with small stop loss or wait for the reversal confirmation and go long.
Itc Short term view
Start at 169
Stop Loss today Low 167
add more quantity @ 175 and 181
Target 200
Capital Allocation 0.05 % of Portfolio Good Risk to Reward Ration Here
HOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open...
SRTRANSFIN is near 800 level, which is a strong resistance after march crash, however it has been tested multiple times, but this time it has also crossed 200DMA and trading near 800 level. it looks it could retest 750 levels before giving breakout. once it breaks 800 level. 800-960 levels openup for upside. RSI is at 68 on daily scale and RSI is at 56 on weekly...
1) Pin bar act as support and resistance 2) Low of bullish pin bar act as support and high of the bearish pin bar act as resistance 3) logically a Pin Bar should close in favor of the prevailing trend, for example if the trend is up then the Pin Bar should have the closing higher than the open and should be a bullish Pin Bar. The opposite applies for a down trend....
