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 strong buying trend in day chart...with hight delivery percentage last 5 trading. so next target 314, 320,328.Time to go for long, get ready to catch the profit. This is knowledge sharing ideas only. If you want to invest consult with your advisor once . Thank you.
1. Sustaining and Closing above 227 is highly positive.
2. RSI trying to Break Out.
3. 208-209 is strong support and should be SL for mid term.
4. Previous swing highs should be Targets: 238/245/265+
5. ITC is a slow mover. Better Trade in CASH or FUT than Options.
6. Consult your financial adviser before entering any Trades. Views shared here for education...
Simple price action analysis on a Monthly chart of ITC.
Initial resistance at 246.
Upon breaching 246, it might test 266 in the short to medium term.
Medium to long term target is 295.
And yes, a bit of patience... and patience is virtue.
