STILL WITHIN THE TREND CHANNEL LETS SEE IF SOMETHING SPECIAL
STBT IN ITC OCT FUTURES BEARISH ENGULFING SHORT@294.5 STOP@297 TARGET@290.5 LOT:2400 QTY:1
A Descending triangle has been formed, the only concern is the previous trend before the descending triangle was upwards, hence I want to see whether this pattern still holds true even if it formed in an uptrend. If closes below 295, can see levels upto 280. Further as per daily charts on Sep 19, a bearish engulfing was formed which shows that the stock is...
Ason 16/09/18, ITC is in downtrend in daily time frame. Crucial resistance level is 308.42 and crucial support level is 305.82 as per pivot points (fibonacci). Short ITC if it crosses 297 for target 290/287/280 with stoploss 311.40.
ITC is above 40 days exponential moving average and 50 days moving average, and there is buy signal at Stoch RSI So it can be bought if market is moving upward. Stop loss can be 301/300
This is a 45 minute chart of UBL. Stocks formed a bearish Head and Shoulder pattern at higher levels and broke down. Now its retesting the neckline at 1364 levels which may be a good selling opportunity. Sell UBL at around 1360 with a closing stoploss above 1375 targets can be 1284 and 1256.
Applied Fibonacci retracement. ITC touched its 1.618 retracement at 321 levels and corrected. 100% Fibonacci level is around 296 so expecting correction till 296 and may be uptrend to resume depends on the situation. 296 will be a crucial level to watch out and a nice buying opportunity with good risk reward ratio.
a strong upmove on the way looking at the stucture of the chart!
Short ITC , ITC will fill the gap target 290.60
ITC is looking strongly bullish after breaking the neckline/ resistance of the triple bottom pattern. Overall long term trend is bullish as the price is above 100 EMA. It may rise to 20-30 pts and if it crosses 330 in the near future it will go much higher. The MACD line crossed above signal line and moving upwards.
A pinbar today on a good resistance level . Possible break out / reversal expected once the level breaches . Long term view is bullish as positive sentiments for ITC .
POSITIONAL TRADE IS POSSIBLE IN ITC BREAKING FROM A DOUBLE BOTTOM FORMATION IF THE STOCK MANAGES TO CLOSE ABOVE 286 ON CLOSING BASIS ON FIRDAY GO LONG POSITIONAL TRADE AUGUST FUTURES BUY@287(FRIDAY)/CLOSE ABOVE STOP@282 TARGET@300
keep trailing your sl , as it goes up!
ITC has been respecting neckline for a few months now. Currently testing it again for a breakout/reversal.