ITC is one among the controversial stock of 2020.
Everyone is seeing value in business & company prospects but same is missing in stock. There are many reasons and all are subjective to conclude it simply, its not retailers logic which move the stock and ITC case is best fit.
Technically ITC is sitting at excellent setup, MAY give good momentum as recent spikes...
Note: This is for educational purpose only. Please do not trade in F&O based on this.
There seems to be a bullish breakout with high volume. There seems to be similar breakout in RSI as well. Volumes have increased as well. RSI above 65 indicates bullish momentum.
You can buy 50% now and rest in dips until 221₹ - 219₹.
My SL is: 212₹
ITC is at its breakdown at 201 level and after this breakout, it's gone to 215 Resistance & if this trend continues soon gone to 228 & if its in a downtrend it breaks its support 201 it went 191.
Result Declared. But it will be interesting to watch the stock at its sweet zone above 135 TL sub wave. But its primary signals towards completion of 3rd Wave. But the problem is 3rd wave can extend upto 2.618 now it has reached just 1.618. So better wait for a proper breakout or reversal to go long.
I will regularly update in Update idea section.
If you follow...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
Our previous trade idea didn't go well since Nifty was in channel correction mode and the correction is expected to stop around 14450-14550. I am sharing the same script but a different definite idea for which I am very certain will succeed and recover our loss in the last trade.
Disclaimer:
Although my previous idea was clearly specified for March Futures,...
ITC is consolidating at such a level that it is definitely not worth the mss. The last trading price of ITC is around 217 and I am we cannot have a better chance than this to create a long position. However, please read this completely before taking a position otherwise you might incur a loss.
Chart analysis
The oozing out of selling pressure indicates...
Key level 240 . Above 240 structure will finally change to a bullish scenario. If rejected from 240 , it is more vulnerable to create a new low breaking the level of 135.
4H timeframe or day chart,
shorting opportunity is here as i shorted around 221. this chart is creating Highs and Lows, you can see the trendline as well,
as heavy volume is there as well, The price would rise a bit, and then might fall, in upcoming days ITC could fall down to 203 roughly, 7-8%.
Let me know your views on Comments. One can go LONG when it comes...
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...
ITC futures have turned 203 levels into a very strong support zone. We have heard about double and triple bottom which are strong bullish patterns but look at this, the candles taking support for 4 times and this makes me wonder how much strength has ITC Futures gathered now?
Can buy (lot is 3700 shares so please calculate risk) at CMP which is around 209.75 with...
