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ITC

WHY IS EVERYONE GIVING A BUY RATING FOR ITC ?Off course the fundamentals are great but with so many firms giving advice and buy call for itc, I thought why so? I studied the chart and saw that itc is trading near 1 year strong resistance trend line. Some days ago, due to high dividend given by itc it crossed this line but again started trading under this trend line. If it crosses this resistance then next we will look at 1/3rd and 50% retracement level as target for upcoming days. I have drawn support and resistance lines for positional traders. As it could make big move at any time so keep your eyes on itc, if it again gets resistancce at this trend line then it could possibly move down to 1/4th retracement level. An intraday chart will be provided soon.
NSE:ITCEducation
by aryanamar
Creating a pandemic proof portfolio with FMCG stocks Most of the mid-cap Indian equities have taken a hit from the current COVID-19 scenario. However, there have been some of the stocks which have shown immense recovery signs in the pandemic and can be a safeguarded investment for this year. It's quite general that the sector which is expected to be unshaken during this time is FMCG. However, if the economy of a country faces a complete lockdown somehow it affects the delicate and important aspect of supply chain management. That's what happened with ITC. Now, as the nation is preparing itself for an unlock so as to protect its commerce and trade, it is expected that FMCG sector stocks can make a recovery to the old level (BEFORE MARCH 2020). One of the most interesting things is that I still consider that ITC is on a very rationale price to the investors. Although the investors who put their money when the stock was on its year-low range of 130-140 are enjoying their smart investments, it's not too late. During the current period of unlocking, there will be more ease to SCM for the FMCG sector which can directly result in an increase in sales of inventories. As ITC provides a wide range of products that fall under the category of strict basic necessities, it is also having a giant market in the tobacco industry of India. Also, from 17th July, the results of FMCG stocks are lined up and ITC will be sharing its quarterly results on 24th July. The results can have a little deficit when compared to the financial plan but still consist potential of providing positive momentum to the price of the stock. TECHNICAL ASPECT The only thing stopping ITC from having significant growth in the market is the strong resistance level of Rs200 and Rs210. These are key levels to watch. The stoch-RSI is finally reaching to the normal territory indicating a certain potential to break respective resistance levels. Strong profit-booking momentum can be there for the stock when around the price range of Rs230. Target- Rs250 (Long-term) Stop loos- Rs180
NSE:ITCLong
by VasuSinghal23
IS ITC READY TO MOVE DOWN OR RANGE BOUND SEE YOURSELF !!Hi Traders, 1. On the 4th of July 2020, I gave the title " IS ITC READY TO MOVE UP OR GOING RANGE BOUND SEE YOURSELF !! and today it is "IS ITC READY TO MOVE DOWN OR RANGE BOUND SEE YOURSELF !!". There is only one thing common that is rangebound in both titles. Why it is so? See in last post point no.4 I wrote is quoting for your consideration " If the price takes out a lower yellow line in a 4-hour time frame and the next day closing is below the previous close then the trend will change to the downside." . you can see neither price fulfilled the taken-out condition in 4 hr time frame nor in a 1-hour time frame. One thing is quite interesting to know that week the first candle took resistance at redline after a gap down an open second rest of the days' price could not dare to fulfill my taken out condition in both time frames. Can you imagine the accuracy of my levels shown in fig last week post behaved so precisely that five days reacted on these? When we trade, we live in fear of braking levels at any time downside. But here spend five days in a small range. Almost in all my posts, I write why shared levels are so reactive in my all posts and conditions give you a real sight to trade in which direction. When to quit from your trade. 2. In point no.1 I mentioned is quoting for your consideration " The white one evening star and red one dark cloud on the same white resistance. Since I wrote dark]]k cloud is not activated till yet. If the activated price will move down. You can see this pattern not activated and the yellow support line provides the good support and price moved up." You can see the red circle pattern is still not activated after one whole week. Therefore, the price did not fall. What happened has already manifested one week ago. Many support and resistance and zone are available on the chart but I always use only those which suit the structure of waves. This is the power of education. I try to motivate you all to make charts and this unique language your friend both will elevate the level of understanding charts and earning too. 3. I have seen ideas of many analysts on this stock but missed that sort of consistent accuracy in their analysis and deliverance. Though all are good in their analysis the edge is missing. So Dear followers lift yourself to a consistent level. Trade Plan For Next Week 1. I market two yellow arrows one at the price section and second at volume. If you see carefully a message is given that down move is with decreasing volume. Had it gone for fall the volume should be in increasing sides. That is the reason the price got a range-bound. 2. Now if this information is correct means what smart money is showing not fake then next session closing should be above the red dotted line. To move up this line is important. That is why I showed a green arrow upside from this area. In this case, the upside target will be the red dotted line. 3. On the contrary, if the price moves down to the lower band that is the last level of which has the potential to resume the uptrend. 4. If the lower band of blue zone is taken out in a 1hour time frame I will be switching my sentiments to the downside with the target of the white line. Setting the last post figure to compare with the current fig so that you could understand my statements better. The rest price will decide. YOGESH VATS Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
NSE:ITC
by yvatsji
7
Just Dial is ready to make a W pattern on 9th July 2020.Please feel free to comment any doubts if you have , I have marked the level in the trade for tommorow. Logic : 1. It is most likely to take last resistance as a support and bounce back. 2. RSI is in oversold zone (31). 3. Bounced back from this zone more than 8 times . Setup : 1. 15mins Chart Time. 2. Target : 385 (The last HH which can act as a resistance) 3. Stoploss : 371 (Little higher than the previous high candle) 4. Risk : Reward is 5.2
NSE:JUSTDIALLong
by Abhishek_TradersSin
IS ITC READY TO MOVE UP OR GOING RANGE BOUND SEE YOURSELF !!Hi Traders, 1. In last week's post, I mentioned in the trade plan next week is quoting for your consideration. " if the price takes out a yellow line with the above-mentioned condition then the trend will change to upside." See in the last post I showed you two patterns circled in white and red. The white one evening star and red one dark cloud on the same white resistance. Since I wrote dark]]k cloud is not activated till yet. If the activated price will move down. You can see this pattern not activated and the yellow support line provides the good support and price moved up. My followers Have you ever thought about why I provide perfect support and conditions? Why price reacts to these markings. Why I do not make these support resistance up and down? More than 175 + post authenticate the above-mentioned questions. Since new readers can not think about this but you all have been watching since I started two publish my ideas. 2. In every post, I mention conditions and how accurately all work. This is a matter of deep thinking. for new readers, I write taken out conditions. And set last week's posted chart for your comparison of my statements for better understanding. Taken out condition works in the two-time frame combination for daily( 4 hr + 1 day) analysis. Similarly, work for lower time frames is also a two-time frame combination. For intraday trades 1 hr with 15 min. For taken out condition price has to complete in both time frames. Aggressive traders can take that side position in a lower time frame with the stop loss of breached candle low. In both the time frames given line is breached by a candle that candle high is to be breached by next candle and close should be above the previously breached candle. This is how taken out condition is being implemented. 3. In the current fig, I made two red dotted lines you need to understand these conditions for further trades. To move up price has to take out upper red dotted line in 4-hour time frame and next day closing has to be above last day closing. If this is not satisfied then chances of price to be range-bound in these two dotted lines. 4. On the contrary, If the price takes out a lower yellow line in a 4-hour time frame and the next day closing is below the previous close then the trend will change to the downside. 5. On the upside, the white dotted line will be the target. since the candlestick formation is negated by price so It should achieve the white dotted line as a target. The rest price will decide. YOGESH VATS Disclaimer:- All trading positions should be taken from consulting your financial planner. This study is for educational purposes only.
NSE:ITCLong
by yvatsji
20