ITC : multiple support at Trendline
>> Rising from trendline
>> Good strength in stock
>> Delivery Percentage rising
>> Volumes building up
>> Perfect Swing trade candidate but it might test your patience.
Happy Trading !!!
Itc 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...
ITC near ATH
Reversal can be seen following bounce-back along with some possibility of sideways for few weeks as well.
Long is for sure though.
Technical: Channel rising
Time Frame: 6-12 months or more (Upside)
Delivery position on 04 Mar 2022 is 61.08% ,(very good volume) consolidating in a range from one year , stop loss will be 196 , can expect good move in 2022-23.
Please do your own analysis before take a trade
This trendline has stayed intact all these years and judging by it, if ITC manages to take 368 out, it's heading for the sky.!!! I would take it long for a few years and expect a target of more than 1000.
Whoever holding this stock from lower level, then can keep stop loss at 238(closing basis)
whoever want to take trade they need to understand first current candle and that's DOJI if break low then it might take next support at 238 and if break high of current DOJI then it will activate this harmonic chart and long side target would be 299 on trailing...
As you can see ITC formed leading diagonal in a monthly chart and gives a breakout upside. ITC completed it's 1st and 2nd wave and it's now in 3rd wave of monthly chart. The first Target of ITC will be 387 and second Target 417. We can see a very strong upside movement in ITC.
This stock has been under performer most of times, but now the way chart is formed is a good sign for bulls, now it may do out perform against market also.
On daily time frame it has given good breakout along with good intensity of volumes, also trend indicators and oscillators are in favor to go long, Overall wave structure is also suggesting same bias as a...
This idea is a follow-up to ITC
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Disclaimer: The information provided is for educational purposes only. Our intention is not to provide any financial advice, don't take any decision without consulting your financial advisor.
Wave 1-2-3-4-5 is complete, ABC is also complete - Major wave 1-2 is completed
Next set of Major wave 1 in progress, in that minor wave (1)-(2) is completed, wave (3) in progress
so when this minor wave (1)-(5) crosses the reflex point - you can buy at retracement for next set wave 3
so, ITC is at huge buying set-up
📈 ITC Ltd. 📉
My Findings :-
1. Breakout from Oct 2021 High and Closed with Strong Candle.
2. Although It’s Crowded trade but it came on my breakout radar so sharing it.
3. Risk to reward ratio is favourable.
4. Check Out My Long term Analysis too.
Target- 307, 320, and 342
RR- 1: 4
All Important Supports and Resistances are drawn in...
This is Monthly Timeframe.
Finally ITC is showing some strength, sell-off started in July 2017 and
it fell more than 60% from it's all time high and made a bottom in March 2020.
And after that it started a retracement, but the retracement have crossed the 0.50 fibo level,
and now approaching the 0.60 fibo level,
that means it not a retracement anymore. It may...