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ITC

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
ITC LongI hope you can now see how ITC represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these charts are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:ITCLong
by EntryandExit
ITC-Back to pavilion like Team India in T20 or Follow 2-3-5 RuleITC - the performance of ITC is similar to the performance of Team India in T20 World Cup... Abysmal - however if we look at it from Chart perspective, we see the stock following the 2-3-5 Rule So what is the 2-3-5 Rule? - It takes 2 point to establish a trend line - Point 3 is your best bet to initiate a trade ( in this case, at 265 since the stock came near Line of Resistance for the 3rd time the trade was on the short side) - It is the 5th attempt, when one should not mess with. The probability of trendline getting weaker is higher and possibility of a breakout is stronger. Diagnosing the charts further, we observe, the stock is near the Line of Support for the 3rd time and on any further dips Risk::reward ratio would look more and more favorable to go Long Target 236 / 245 / 251 / 262 ___________________________________________________________________________________________________________ Here are a few examples of charts where the 2-3-5 Rule helped us capture the best movements Adani Power From 45 to 154 Adani Power profit booking above 154 ONGC From 133 to 169 in quick time Short term targets achieved and profit booking duly recommended at 157 / 169 Limitations : Like any other study, this too has it's own limitations - there is no guarantee this will work all the time - the 2-3-5 Rule may contradict with the Cup & Handle pattern in which breakout is expected on the 3rd attempt itself - I have used this study mostly on longer time frame charts Weekly and daily charts and haven't observed the same adequately on 5 mins or 15 mins charts. So can't comment for those time frames This Diwali, my advice is - to take the learnings, invest some time in your studies - observe for yourself on different time horizons and different stock charts - and be in a better position to take investment / trading decision with better knowledge. This approach will work far better for you in the longer run than what advice we see in Media ads with related to investments these days - It's Okay if you are irresponsible and broke your TV, 2nd income from stock market is there - ghusta nahi kuch khopdi mein ( don't understand a thing about investment) yet invest without knowledge in the Hope Kuch toh badlega (something will change... yeah things can change from bad to worse). - Boss ka presentation gaya bhaad mein... ( I mean seriously.... how can one reflect disrespect towards your work and carelessness as cool attitude) A little bit of fun element is fine but to the point of being reckless and irresponsible.... That's not the attitude which which you want to come to market... and with your money and your Future goals at stake.... I am sure, that's certainly not the habit you would want to develop. Remember, whatever work you do, be ready to give 120% of your efforts and output . Do justice to your work 🙏 When it comes to investments and trading, it's your money and your Future... always and always treat it wisely Trust you find the inputs useful. Do Like and feel free to share your views in the comment section below. Follow for more such ideas Wishing you all a very happy Diwali...!!!🙂 Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:ITCLong
by indiamarketoutlook
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