ITC
Swing Trade Idea #235 : Long on ITC This is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
ITC long term view ( time frame 1W ) This is how ITC performed after the crash. In the channel pattern, it has taken 2 supports, 3 resistance.
After that did you observe bulls are aggressively buying near the upper trend line. the psychology behind this is in very soon there will be a huge breakout in ITC.
Please LIKE you are convinced with my explanation, if not let me know in the comment section. I am eagerly waiting for your reply good or bad just reply. Thanks for reading.
Disclaimer:- It's just for educational purposes.
ITC | BUY above 210, Target1 222
1. Bullish RSI Divergence at Daily & 15m timeframe.
2. Formation of ascending triangle, which is considered more towards bullish probability trend.
3. Formation of higher low at daily timeframe .
4. Price above EMA 200 on daily timeframe , its still bullish .
Swing Trade
Target1 - 222
Target2 - 234
Target3 - 244
SL1 - 205
SL2 - 200 (trend reversal)
ITC | Buy - RSI divergence + Ascending Triangle Formation NSE:ITC
1. Bullish RSI Divergence at Daily & 15m timeframe.
2. Formation of ascending triangle , which is considered more towards bullish probability trend.
3. Formation of higher low at daily timeframe.
4. Hourly candle took proper support on 22nd Jan during last 1.5hours at the resistance shown , respecting the long trend line.
5. Price above EMA 200 on daily timeframe, its still bullish.
Swing Trade
Target1 - 222
Target2 - 234
Target3 - 244
SL1 - 205
SL2 - 200 (trend reversal)
Upside expected in ITCI am expecting 226 in the next 2-3 sessions.
Short Term Targets: 230-235
Medium Term Targets: 240-245
Long Term Targets: 300++
ITC seems bullish.
Everything visible on chart. Kindly comment or reach out for clarifications or views.
Rest Market will tell! :)
Note: Post only for education purposes-
ITC: BUY/SELL Algo signal demonstrationHOW TO FOLLOW ALGO SIGNAL:
Deciding buy/sell
1.Strictly use only on 1 hour time frame.
2.Wait for a ‘X’ sign before mind make up. A red ‘X’ means look for selling opportunity , a green ‘X’ means look for buying opportunity.
Taking a position:
3.Wait for an arrow before entering into any position. A red arrow on upside of a bar pointing downward means open short position. A green arrow below the bar pointing upward means open buy position.
4.NOTE: Only after the the signalling of X , look for arrow. Do not buy/sell if you see any arrow before the signal of X.
5.STOP LOSS should be the most recent swing high/low or most recent STRONG CANDLE’S high/low.
While maintaining the position :
6.The small triangles after the each bar completion tells you to hold the position. The red triangles appearing upside on the bar tells you to hold the short position, whereas the green triangles appearing below the bars tells you to hold the long position.
Exiting the position:
7.After you create a buy position , if you see a green arrow above any bar pointing downward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
8.Similarly, after you create a sell position , if you see a red arrow below any bar pointing upward, then you should either book partially/leave the position for sometime. You will get another signal to re-enter.
9.While being in position if you see any X signal which is opposite of your trade , then leave your position immediately.
10.When you see a big red circle dot then you must exit all your short positions. Contrary , when you see a big green circle dot , you must exit all your long positions. And then wait for a X-signal.
No Trading Zone:
11.When you get frequent X-signals in green-red-green-red & that too very close, then its means that stock is going to form a range. One should wait for the range break & move away to another stock. (THIS IS WHERE YOU WILL REQUIRE A PRACTICE TO IDENTIFY THE RANGE)