TOP PICKS - DIRECTION - FORECAST - 30th Sept 2019Hare Krishna !
The post is to give my personal bias on the stock movement for the coming week.
The stocks have gone through a thorough filtration
The post gives one of the most important needs of a trader ie- the "Direction" .
One can buy or sell based on his or her own strategy/use my method.
For more info on my method you can send me a message.
Good Luck!
Disclaimer - ( It is highly recommended that viewers/traders/Investors should independently review particular investments/trades and techniques, and i encourage the investors/traders to obtain recommendation/suggestion or advice of a financial adviser.)
ITC
consolidation period is going on - Most likely, its bullish..Most likely its bullish, first target 253, if close above 256 then 10 more points can easily be achievable in short term.
Hit like if you like,
I did not like weekly RSI breakdown which is first time on 20 year it broke the support and now trying to recover
Butterfly Spread trade in ITCITC is in rangebound between 270-280 from the last month and is expected to be in the same range for this month too.
we can execute Butterfly Spread in ITC if we are expecting the same range.
The following contracts need to be taken to execute the strategy:
ITC JUL 25 2019 Call 280 2400 2.3
ITC JUL 25 2019 Call 275 -4800 4.1
ITC JUL 25 2019 Call 270 2400 7.15
Max Profit : 9000
Max Loss : 3000
RR ratio : 1:3
ITC can break out of its consolidation rangeITC has been consolidating in a tight channel for about five weeks and is near a breakout. It is also seen in the last many budgets that traders build short position ahead of the budget day, anticipating more tax on the company and cover their position on the day.
A similar sharp move above 279 is expected to take stock to 288/304.
Buy Price: Above 279
Target: 288/304
SL: 275