It gave earnings gap up on 16 nov. Its also BGU (buyable gap up) setup by Gil morales.
Volume is 700% above avg which is just too much.
On friday, held the BO line giving a pullback buy.
So, high probability setup.
ITC in a breakout positon
Earning is on 25th may
1. 7%+ rally before earning season
2. divergence on money flow
3. resistance on 190-193 level (Technical analysis)
4. Resisitance as per option chain data is at 200.
Option chain data
Resistance strike 200 call - 33.5 lakh OI
Support at strike 180 put - 14.8 lakh oI
Bear looks more powerfull here.
Trade plan...
