Exciting thing is good big hammer on weekly time frame..lets see what happens - ST/MT
Stock trading at less than half of book value.
Company has ventured into renewable energy as well.
Shows signs of short term trend reversal (bearish to bullish), and continuation of long term trend of bullish
1) Took support on 200 Day Moving Average
2) reversal from 61.8% retracement level of Fibonacci support level
3) Head and Shoulder pattern neck line Breakout
4) Flag and Pole pattern
5) Trend line Breakout
6) reversal from June Highs of 2375
for Short...
TRADE OR INVEST wisely.
WE CAN JUST PREDICT.
Disclaimer: I am not a SEBI registered advisor , so before entering on my view plz ask your SEBI Registered Advisor . Profit is your and loss is your.
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Price is nearing its 52 weeks high with 7.1x above-average weekly deliveries.
With ARS & SRS Positive during almost 10% correction, VEDL could be a good Medium Term bet.
It has come to a very strong Monthly as well as Weekly support per ICHIMOKU. It could be a very good medium to long term accumulation zone (125-160) here for targets of 250/300 and more.
Currently trading in a previous resistance zone as marked on the chart. Break above these levels will lead to 120 in medium term.
Current levels ok to build position (Waiting for break out of resistance zone not Needed)
Investing in this stock would require patience as it has a tendency of consolidating within a range for long periods before moving.
This is only...
ITC is a index heavy weight & Fundamentally very strong stock . It is a must have stock for long term investment portfolio stock in FMCG sector.
It is on very good levels and chart looks strong too. It should be on your RADAR..!!!
1ST TARGET 15.65 AND
2ND TARGET 17.55 VERY IMPORTANT LEVEL TO CROSS, IF CROSS AND HOLD THERE THEN 20.
STOP LOSS 14
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
