ITC is showing a descending triangle pattern which is bearish but also showing RSI positive divergence on daily timeframe which indicates a momentum gain in buying side. If it breaks above the trendine then expected Targets will be 218rs then 226rs. If it breaks the 200rs support area then first expected target can be 188.50rs.
Price forming higher lows but taking support from the same levels for the last 6 months, so it has all chances to break the trend line and move up swiftly. Chances of breaking the support level is also there but still when compared to trendline break it is minimal.
A CLOSE ABOVE 217 = ABOVE 21 EMA = BIG JUMP. TARGET 1= 268 TARGET 2= 304
keep eye on this zone below this zone there will be no hope for this stock
Triangle breakout in ITC. Strong uptrend. Check out the pivot points. These levels will be crucial. -> 214/218/225 are critical levels. If ITC crosses these level, it will fly :) PS: For educational purposes only. ***** Kindly consider following me for more analysis *****
ITC : Strong momentum - Filtered from Strategy#1 - near demand zone - acuumation going on since long time - up move can be seen in upcoming days Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing
ITC ready for a bounce after retesting is long-term support zone of 200. Fundamentally good stock haven't participated in this market rally till now. Stock on the verge of breakout of trendline. FMGC sector diversified business model. Trigger News ITC files Rs 100 cr defamation suit against portfolio manager Manu Rishi Gupta for blog post buying...
Stock trying to break the major resistance with high volume , if it breaks the 100-101 resistance level we can wait for some lil bit or correction or can enter for short term gains , it will go up to the range of 150 & more . Simple price action .
Itc came upto its strong support zone can be reversed from here as its forming ascending triangle , can be brought after it breaks the triangle at price between 204-205 for the target of 210-15 in 5-8 days . 209 can be resistance after that it will play as support .
Hi guys its a very good pattern and its in uptrend with double top pattern :And don't forget to like and follow : Have a good trade
after the great consolidation of itc i think we can see a large move either to up or down side