ITC
ITC In minor trend resistance ITC In minor trend resistance and form triangular pattern if it break upside next resistance is 339 and second resistance is 346 if it break down its immediate support is 325 and i believe it break up side because it is in 3rd swing and Bullish engulfing candle is formed
ITC - DAY CHART - 07.12.2022 - BAHAVAN CAPITALITC as per Day Chart Analysis Stock ABOVE 345 TARGET 348.
Today 07.12.2022 Again FII Net selling continue to 1241.87 Cr and DII Net Buying at 388.85 Cr.
There is a Possibility for Nifty to touch 18425 Level. So lets wait and watch...
Happy Profitable Trading to All...
ITC case studyAs per elliot wave theory counter is on verge to mature its motive phase,
ascending wedge pattern formation have resistance zone around 355-361 levels
counter have given bearish reversal on smaller time frame below 354 levels
now zone of 354-360 would act as strong resistance zone for counter.
bearish divergence on rsi with respect to price,
use rally in counter to exit from long positions, till counter does not give 2 consecutive daily close above levels of 363
down side if corrective phase unfolds counter might retrace to levels of 320-300-290
Time to be cautious on your investments.
Stong Stock ITCItc is fundamentally strong stock that is giving breakout in daily timeframe
Stock is tradingbabove 20 50 200 ema respectively you can buy it with stop loss of below 50 ema
Target 500 for 6 month time span its not a recommendation it's my own study please do your analysis first
As you see it's currently trading above cpr it can move to resistance 1 and 2 respectively
Stock is Clearly in uptrend it's can seen by moving averages and cpr
Here is result of this stoc
ITC Q2 : ST NET PROFIT UP 21 % AT 4460 CR (YOY) , UP 7 % (QOQ)
REVENUE UP 27 % AT 16130 CR (YOY), DOWN 6 % (QOQ)
EBITDA UP 27 % AT 5864 CR (YOY), UP 4 % (QOQ)
MARGINS AT 36.35 % V 36.3 % (YOY), 32.7 % (QOQ)
Intraday Trading level for ITC ITC STOCK for Monday 03/10/2022 If stock open in the range of consolidation, then please prefer to book profit at top of the consolidation or bottom of the consolidation, you can book your 50% profit at this level and if you see volume hike at this level or momentum you can wait for next target. Please book your loss at stop loss level. Save your precious MONEY
DO YOUR OWN ANALYSIS BEFORE YOU ENTER THIS STOCK
HAPPY TRADING 😊