ITC
ITC Expected to go down as making a descending triangle pattern.As ITC making an descending triangle pattern in day candle in 3 months chart. on 9th February it has achieved level of 240 after that started going down and get a reversal with the strong support of 198. After that it again touched trendline on 228 at 23 march and sharply down trend from that resistance again reversed from the support of 198. On may 18 it has tried to break the resistance of 215 and but created a red candle making and made a low of 212 now it is again trying to go toward the support of 198 currently trading around 210. in upcoming days it can test the support level of 198 and break the level and may make a new low from where it will get a new support of 180. this technique may not work if the expected returns of earnings may be released by ITC on june 1.
#ITC analysisWe missed 1st target by 3 points in my previous idea.
Comin to current structure, we can see it is still in bullish trend but stuck in 206 and 209.5 zone. If the market is positive we, ITC might take out 209.5 and move towards 217/220.
We have to watch out for the support marked in the chart. It has tapped twice and moved up, if it taps again then there is a possibility that it will break 206 and test the gap at 203.65 and fall further towards 200 and 193.
Regards
ITC BREAKOUT and RetresTriangle PATTERN BREAKOUT and Retres on itc chart
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NIFTY FMCG Breakout and RetestNSE:CNXFMCG had formed a triangle and has given breakout now.
The Restest of an important level has been done so we can expect the index to go up.
Keep eyes on NSE:ITC , NSE:NESTLEIND , and NSE:JUBLFOOD .
ITCITC on a daily chart has taking support multiple times in the range of 200-210. It has been facing resistance at the descending trend line as seen in the chart. Huge chance of breaking the trend line this. If it does we can expect 225 levels then towards 240 levels.
Just my view. Please comment below your views as well
ITCI see a descending triangle pattern here with strong support at 200-202. So, I see two buying possibilities:
1. When the price falls in the 200-202 range
2. When the price breaks the falling trend line
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
itc short idea bearish batshort for target 203 stop loss only 215 on candle close basis, also short only when candle closes below trendline
ITC Wait for one more breakout..today we can see itc open gap up and then shown weakness....
today there is symmetrical triangle kind of charts pattern formed...
wait for breakout...
ITC 1h time frameITC is moving in a downward triangle and has now formed a head and shoulder pattern. It might go back up due to the last session's retracement but should technically go down.
Is ITC making descending triangle pattern?? 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 accumulate as much as possible around theses levels😊😊😊😊
#ITC 😂
ITC 1h time frameITC clearing making a descending triangle, should probably fall. Do wait for a confirmation before you enter and also if the market turns very bullish it may go north also.
Trade wisely...
ITC looks Bullish for PositionalCan Enter at current levels (204 - 206.5)
Positional Targets:
T1 at 210
T2 at 221
T3 at 230
Consider Accumulating more at support levels - 200.35 , 192.50
ITC_DONT MISSITC has again started upside momentum from its support zone. It has also given a breakout of the tredline.
This can give you a value trade opportunity.
(for educational purpose only)
ITC near to seller areaITC have a seller area from 213.10 to 215.95
In this are we can take short entry with stoploss 216.50 with daily close bases
And Target 1 is 209
Target 2 is 206
Long ITC with SL 200 , Target - 2401. ITC retraced at the 38.2% fibbonaci levels.
2. Looks good for 240
