ITC been underperforming for sometime now. Will it prove to be a value investment for Short Term??
As ITC LTD. Chart showing some short covering and looks upside for next 5-7 trading days ITC LTD. has taken good support @ 180 range CMP @189.10 Upside View @ 206-210 Support or Stop range @180 5-7 Trading Days Expected. {ALL MY VIEWS ARE ONLY FOR EDUCATIONAL PURPOSE.}
ITC has bounced exponencially from its support 180. Some big players may be absorbing all selling pressure. Keep watch at this counter.Good to go long above 190
Keep stop loss of 210 on closing basis and short the stock ITC for a target range of 180 & 160.
Took pattern support, small retracements possible. Should form higher highs & move to the top.
I hope you can now see how the ITC represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favour. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Disclaimer: It should not be assumed that the...
In accumulation zone, the security passes from weak and uninformed participants to strong, informed participants of the market. Clearly it could go higher in coming days if it breaks the 2 year old resistance line.
Note: All charts are educational purposes only. Please do your analysis before go into trade.
I have added all the details in the picture , please refer and let me know of any doubts.
ITC in a breakout positon Earning is on 25th may 1. 7%+ rally before earning season 2. divergence on money flow 3. resistance on 190-193 level (Technical analysis) 4. Resisitance as per option chain data is at 200. Option chain data Resistance strike 200 call - 33.5 lakh OI Support at strike 180 put - 14.8 lakh oI Bear looks more powerfull here. Trade plan...
Note: This is for educational purpose only. ITC looks bearish with double top formation. RSI below 50 indicates bearish momentum. Below 175, there will be further downside.
Strong support 181.55 below, this price stock can slop up-to 174.30 If the price cross 186.35 to be in safe side stock can move up-to 192.70. The stock moment is very slow. In support line candle made a tail which shows price rejection. A double curve has created and having a strong support level.
ITC has given a breakout above 195 level and closed strongly on DCB. On monday,if the index trend is up, we can expect a move towards 205 level this week. Any correction in the price can bring it further down towards the upper line from where more quantities can be added upon price action confirmations. All validations given as per setup : Hourly chart : ...