ITC
#ITC turns around 161, clean Elliot waves. #wave 3In my previous idea, I already suggested that we could see some reversal around 161/57 for 185 at least. It gave a breakout from the pitchfork as well. Will attach the link below.
Now, as per elliot waves, if the counts are valid, then the scrip soon touch the marked levels on the chart. If you're a trader, then a right entry and SL is too important. So look for a buy setup as per your trading plan and method.
Even if you are correct, still a wrong entry will cause failures and loses. And even if you're against the trend, a right entry will save your.... ;)
Also, I can decorate my every chart with 100s of pattern, fibonacci retracement, gann, harmonics, retracement, trendlines and channel, but I choose not to. If you want to see simple analysis with highly accurate predictions, then see and learn from my other ideas shared.
Anyway, if you like my ideas then give a like and comment. Reach out to me for enquiries and doubt.
Link for previous ITC idea below.
Regards
Resistance breakout in ITC for target of 250+In today's trading session we have seen breakout of resistance zone in ITC. After this breakout, we will see the next immediate target 235 and 250+. It can take small retracement up to the breakout level from near 220.
Possible trade:
Buy ITC above 210
Stop-loss 200
Target 235 250+
Buy in ITCHello Looking for short term entry on ITC, multiple times rejection on the resistance, and after a few days prices given breakout with high volume. MACD is a positive state on a Weekly time frame and Stochastic is a buy state currently; overall all parameters are giving buying conviction.
ITC LONG....Above 214
BO with good volumes
We may see good up move up to 234-244
Weak below 180
above all important moving average
ITC forming shooting starITC forming shooting star with small body & upper shadow twice as long as body.
Watch out for tomorrow's candle! A red candle might be a signal for the down trend.
ITCITC on a daily chart crossed important levels 200-210. If it stays above these levels, it can rally towards 235-265 levels
ITC's next resistanceITC is back to testing a major resistance. The stock has broken all barriers decisively in the last few trading sessions and is now on the field to break it's most important resistance since a very long time.
ITC's time is here.
Go long if resistance is broken decisively.
Please like and follow. And I would be forever grateful if you would look at my ideas. Especially the one's on ITC. Liink to one below.
NSE:ITC
ITC: Exam time , Pass or FailTrading strategy :
Key level is 210
1. Go long above 210 keeping a mino Stop loss of 203 , for the target area of 240 & later 280.
2. Go short below 210 if it starts rejecting from the zone of 210-220 for the target of 190/175.
3. If it starts taking support near the zone of 175-180 again go long with that recent low as SL & ride till 210 & above 210 follow plan 1.
ITC Bullish FlagITC has made a bullish flag like pattern. The Pattern is not exactly the text book definition.
Still the way it is holding up and making higher highs and higher lows at lower TF suggests buying pressure and consolidation.
It may give explosive up move in this month. keep on radar.
I am expecting move up till the recent highs of 210.
Post which it will go into consolidation and then will go onto higher targets from there if the levels are sustained.
Final target - 235 before another down move.
ITC - Trending back towards upper end of the channelNSE:ITC Currently trading at 198. Stock has moved up well and in heading towards the upper channel. It has also broken the resistance line and has given a break out. The immediate pivot is near 210 levels. Sustaining above 210-212 would move ITC in to a long term bullish phase and the stock can start its rally towards making new highs. I would recommend investors to take long term positions in ITC above these levels and also watch out for volumes to get better clarity. A weekly close above 210 would be a better bet to enter for long term.
