ITC given big move on Friday but not able to break trendline and sustain above 212.50 levels. If it faces rejection then there is possibility of descending triangle and it can fall below 200 levels. Also nifty is on make or break level so keep SL if positional view
Ignore if crosses above 215 then big move towards 240-250 expected.
Long Investors don't worry...
Last week market was overall bullish and sellers had a full control over market. It is still seeming weak and will be in same condition in upcoming weak as per my analysis but as we know that market can change its direction any-time so we can not relay only on analysis.
So in ITC chances are too high that market will open in downward side but there is a also...
ITC Forecasting , Positive RSI divergence
ITC is trading at its crucial support around 165 & Now RSI is also accelerating Positive divergence towards demand zone.
We can see first moves toward 180 if it successfully cross the 174.
If it fail to hold 165 then we can see next support at 157.
Strong support 181.55 below, this price stock can slop up-to 174.30
If the price cross 186.35 to be in safe side stock can move up-to 192.70.
The stock moment is very slow.
In support line candle made a tail which shows price rejection.
A double curve has created and having a strong support level.
