#TRITURBINE 107 to 122+ 15% return #Nifty #bankbifty #energy #it#TRITURBINE
NSE: TRITURBINE
CMP 107.50
TARGET 122++
HOLD AFTER BOOKING APART!
Long Term Target 146++
Factors:
BREAKOUT
Rising Volume with rising Prices.
Flag pattern breakout.
Pennant Pattern Breakout with Bullish Candle.
Retest Successful.
Higher Highs & Higher Lows.
Broken above RESISTANCE levels
Trading at SUPPORT levels
Fundamental are strong.
Risk Return Ratio is healthy.
And
Rising from Double Bottom Pattern to Flag Pattern forming
The stock has potential to go beyond 146 in longer time.
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With 💚 from Rachit Sethia
ITC
ITC - Perfect Descending Triangle | Target - 225,240🔰 MY thought process :
⭐Multiple supports at the triangles lower side and 3 times good reversal from the upper trendline
⭐Volume profile is showing its trading at the most crucial and most tradable supply demand zone, a breakout from the trendline might initiate a good upmove :)
⭐Risk : 206 can be taken as a good SL where we can take 225 as 1st target and 240 as 2nd . :)
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today as posted guys :)
Also keeping an eye on JSW steel too seems bullish to me :), All the analysis already posted :)
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
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ITC showing high volume and is a good stock to go long.Target 235
Stop loss 210.15
LONG BUILDUP in futures
high volume
5-Day 2,542,625
10-Day 1,936,257
30-Day 1,306,308
Company with low debt.
P/B 4.11
P/E 20.04
Security-wise Delivery Position
(17-MAY-2021 EOD)
Quantity Traded
3,80,01,828
Deliverable Quantity (gross across client level)
1,28,54,695
% of Deliverable Quantity to Traded Quantity
33.83 %
Todays outlook
212.75
0.50 (0.24%)
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
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.