ITC, as predicted in the last 2 posts on ITC (linked below) is trading in a value area.
Today, it made a huge bullish marubuzo traversing the range of value area and closed just below the resistance of 203.
However it did so with lot less volume when compared with its past breakout; which is primarily why I don't see it sustaining the bullish behaviour.
The...
ITC as forecasted in my previous cup breakout analysis is in a historical price value area between 194 and 203.
Depending on how the results are vis-a-vis expectations of the market movers (MF, banks, investors); the breakout may happen in either direction or a side-ways movement.
For breakout up; wait for a close above 206
Fore breakout below; wait for a close...
The stock has already formed the DOUBLE TOP pattern.
A double top has an 'M' shape and indicates a bearish reversal in trend.
Now forming Symmetrical triangle, the value is going lower but it has strong support point to be noted and the volume is not increasing so price will take some time to go for the target that is 187 nearby.
(Symmetrical triangles occur...
Always little be penetration can be seen in intraday research.
The control price of major channe l and value high of minor chann el can be Intraday U-Turn point at 11608 nearby and minor yellow channel has value low at (D) 11523 but value but intraday support can be 11563 in some case only because already support has taken b y Manjor channe l at (4) and...
