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ITC

-The Famous Biriyani price large cap stock-. NIFTY50The famous Biriyani price large cap stock. The potential to give Biriyani to the investors. We all witnessed how the famous ITC meme stock shot up. after breaking out of the famous 200–220 range. Now it's back to the range. Even though we all know we are officially entering the correction phase. looking at the chart, the current level looks good technically.  ITC 200 to 220 level is a very important consolidation range; we only need to be concerned if the ITC falls below 200; otherwise, it is good to average in this correction phase. In the daily time frame, it respects both the trend line and the fib line. It is now nearing 0.5% in the fib line. Any change in sentiment in the NIFTY50 can be expected to have an impact on the ITC. Many analysts are bullish on the stock. But the stock price was dragged down by the disappointment of the analyst meeting. Keep ITC on your radar and the support levels. However, because we can include this stock in our long-term portfolio at a reasonable average price,
NSE:ITC
by Manuadarsh
6
ITC is traded in Channel for longITC is being traded in a channel since last one and half year. Recently, It has touched lower line of cannel. Bullish View : Currently it touched lower line of the channel Currently it is traded in support zone It is taking support of 200 SMA on daily chart ]Point of worry : 200 SMA on weekly chart is resisting upward movement Touched support line with increasing volume It has possibility to breakdown. If it breaks its support, it may fall till 200 Trading Suggestions: Long: Entry : Wait for reversal pattern and take entry above confirmation candle on daily chart Stop Loss : Below nearest swing low Target : T1- 238, T2- 245, T3- 262 Note: Wait for reversal pattern. If it confirms, then and only then take trade. Disclaimer: I am also a learner. It is my view. Please analyze it yourself before you initiate the trade.
NSE:ITCLong
by aanand1008
Reliance & ITC steady Nifty, HDFC Bank drags Bank NiftyNIFTY 50 EOD ANALYSIS 09-12-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17524.40 H 17543.25 L 17379.60 C 17516.85 EOD +47.10 points / +0.27% SGX Nifty 09-12-21 @ 1540h = -27 points FII DII = -803 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a gap up and then FIIs would have pressed the Sell button and it fell 100+ points and then recovered a bit but then fell another 100+ points. Once this shake out was done, it consolidated around 17425 and then rallied but could not clear the opening high. It then experienced the customary expiry sell off and finally managed to end above 17500. Even though there was positivity throughout and India Vix is also showing a good downward move, the market was choppy and many SLs may have been hit on either side. Nifty has in the process, made a higher high and a higher low. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 71 Top 5 Draggers contributed = 41 Net = +30 BANK NIFTY WEIGHT LIFTERS & DRAGGERS Top 3 Lifters contributed = 21 Top 3 Draggers contributed = 216 Net = -195 POSITIVES Nifty closed above 17500. Reliance, ITC and LT helped Nifty steady and end in the green otherwise it would have also ended in the red. ITC waking up again is a good sign giving Savings Account equivalent return in a day. India Vix keeps falling. NEGATIVES Bank Nifty was unable to hold on to the positive approach and closed well below yesterday’s close. FII DII are net sellers as FIIs keep selling and DIIs have not been buying enough indicating that there may be a further slide in store. TRADING RANGE FOR 10 Dec 21 Nifty Support = 16900-17000 may well be the new base. Nifty resistance = 17550-600-625 Bank Nifty Support = 36500-800 Bank Nifty resistance = 37500-700-38000 INSIGHTS / OBSERVATIONS Nifty ended the day at 17516 and this is the highest EOD close in this month and the first after 23 Nov 21. If Reliance and ITC had not performed well, Nifty too would have caved in like Bank Nifty as traders/investors may have started banking gains after a significant up move from the latest swing low. Yesterday I exited the remainder of my position in HDFC Bank as I feel it's a sick stock as it moves up 10 points and slips 20. And good that I did so as today, it is the leader in dragging the indices. Bank Nifty ended with a -202 points and HDFC Bank contributed 175 of these. This is the power of the heavyweight though I would prefer to stay away from it. It is strange that yesterday HDFC Bank contributed 200+ points and today almost that but in the opposite direction. And here is my take on ITC - please click the link to read the tweet: What do you feel about this? Here is the video link -- Thank you, and Happy Money Making! Umesh 9-12-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:BANKNIFTY
by AVENUESOFINVESTMENT