#ITC Cash : Flag Breakout Pattern on Daily..Breakout above 400#ITC Cash -Positional for 3-6 months
11 April 2023
Strong Breakout above 400 levels for 475/540
(Safe investment call)
Flag breakout Formation call
Cmp 396
ITC trade ideas
Trendline Breakout in Itc Limited...Chart is self explanatory.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
ITC to DIVE TILL 350 below 384 closingNSE:ITC ITC has been sideways at the highs of life time and is showing negative signs of sharp down fall set up if it comes down and breaks the range support of 378/369,
below 369we can seen a sharp fall to 350 step by step with only 1 pause/support zone n middle at 363/361.
IF ITC BREAKS RANGE HIGHS/RESISTANCE OF 394 and gives closing and opens new candle above it, then and then only it can carry on the uptrend.
The Ultimate guide to Market structure with 30+ Charts! Hey everyone!👋
In this post, we'll delve deep into market structure, presenting insightful examples to enhance your understanding of this concept.
Introduction:
✅ Market structure is a framework for comprehending the movements and behaviour of markets. In layman's terms, it is a basic form of understanding how markets move.
✅ It can be seen as the flow of the price between a series of swing highs and swing lows.
✅ The market moves in trends, which are the result of various patterns and structures that form and evolve over time.
Exhibit: Various structures and patterns evolving over time into different trends
The market structure allows you to be in sync with the market and avoid counter-trend trading, which enhances the probability of your setups.
Exhibit: Market structure favouring longs
There are broadly 3 types of structures:
1. Bullish (Uptrend)
2. Bearish (Downtrend)
3. Ranging (Sideways)
Illustration: Bullish market structure
Illustration: Bearish market structure
Illustration: Range market structure
📈 What is an uptrend?
✅ Characterised by a bullish market structure.
✅ Formation of higher highs followed by higher lows.
✅ For an uptrend to stay intact, it must preserve its ascending structure - higher highs must follow higher lows.
📉 What is a downtrend?
✅ Characterised by a bearish market structure.
✅ Formation of lower highs followed by lower lows.
✅ For a downtrend to stay intact, it must preserve its descending structure - lower highs must follow lower lows.
✅ Lower highs are allowed if the price goes into compression or re-distribution.
⚡ What is a range?
✅ A range is a zone where the price finds itself bouncing between two levels.
✅ These levels are - range high and range low.
✅ The size of the range is dependent on different factors such as asset class, demand-supply, volatility, etc.
A lot of times, the structure won’t be as clear as you want it to be. Conversely, sometimes the structure will replicate the textbook. Hence, you need to be flexible in your approach.
Sometimes, trading in range-bound markets can be challenging due to the choppiness in price movements. However, when the price action is more defined, some traders may prefer to trade the range by executing breakout trades or mean reversion trades from the range high to the range low or vice versa.
It is better to combine market structure with other concepts/indicators for better results.
Exhibits: Bullish market structure
ATUL Industries
Tata Consultancy Services
Rain Industries
Indian Hotels
Navin Fluorine
Delta Corporation
Gujarat Gas
Page Industries
Titan Company
ITC
Exhibits: Bearish market structure
Birla Soft
Tech Mahindra
Indiabulls Housing
L&T Housing
Grasim Industries
Biocon
Tata Power
Canara Bank
NMDC
Bharat Petrol
Exhibits: Ranging market structure
Granules
ITC
Syngene
Hindustan Copper
Thank you for taking the time to read this. I hope you found it to be informative and useful.
Much love, ❤
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
ITC SUPPLY ZONE 364-375ITC LTD beautifully moved from 200 to top 335. still can go 354 to 372.
MAJOR RESISTANCE ZONE 364-75
till not proper Breakout above 385. investors should book profit here & wait for reentry either above 385 or near by 250-280.
Short ITCPersonal Reference -
Current Scenario distribution have started in the stock and has limited upside potential.
Support level marked on the chart
NSE ITC - Long Squeeze to carry it to 400+ if NIFTY holdsITC continues to stay under LTH, building tremendous energy. Bounced back off 370 odd when market sold off
Weekly chart breaking through consolidation
Target - 420-440, Stop Loss at 370
Calls - IV at 17% means you only need 3% move in 52 days (till April exp) to break even. Buy ITM Calls 380, Sell 420
Risk - Nifty collapses below 17300 - all bets are off then
Script: ITC Quasimodo Pattern and Elliot Wave Theory Combined.The Quasimodo Pattern is also called Over & Under pattern. It is an advanced price action trading concept in the trading industry.
The Quasimodo pattern is more than a confluence pattern or entry technique than a trading strategy. It uses to confirm the trader’s bias.
Current example for QML reversal trading. Script: ITC Wait for
Entry: 334.
T1: 360
T2: 390
SL: 323
ITC - be cautious for short term -- wait for correction though fundamentals are strong and stock is at ATH
donot enter long trade -wait for correction
liquidate some long position
technicals are not strong for long position
technicals are described in the chart
target 1 - 370
ITC - Looking Weak & Rising Wedge Breakdown PossibleNSE:ITC is looking weak on daily and weekly charts. ADX just crossed 25 ( threshold that I consider ) for directional movement. The downside momentum can continue for targets mentioned on the chart as T1, T2 and T3. The conviction comes from simple price action setup ( weekly doji close and the current week candle closed below doji close ) and open interest data
Positional weekly target also listed if we close below T3 decisively.
Let's see how the story develops. Best wishes!
Disclaimer -
- The opinions expressed here are my own. This is for my own records as well as what I see on charts.
- If you are referring to this, please keep in mind that it is only for educational and research purposes.
- Past performance is no guarantee of future results.
- You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION.
- It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance.
- Before investing, conduct your own research and consult with a financial advisor.
TIA!
ITC STOCK ANALAYSISITC
It is fundamentally strong stock every correction is good to accumulate. In every impulse it give correction from fibonacci level of 0.5 to 0.618 level.
ITC NEXT YEAR 2024 TARGET PRICE ______475 /-rs. ITS just my opinion NOT FOR TRADE FOR ADVICE>>>> just analysis your own and take decision ......ITS MY STUDY >> >ITC PRICE TARGET FOR ONE YEAR {2024 ) MAR _APRIL >>>PRICE WILL REACH 475/- RS.....
LETS SEE WHATS HAPPEN
ITC Flag and Pole PatternITC is forming a flag and pole pattern, ITC has shown great growth during the hard time when the market has been acting up bearish. It is safe to say that ITC will manage to grow unhindered from the markets current sentiments thus making it a good for long trade.
ITCITC:- Rounding bottom pattern is formed, strong stock for short term, keep an eye
You can plan the trade as per your risk appetite now
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.
ITCPatterns : rounding bottom
Trend line BO
Buy above 383 with the stop loss of 377 for the targets 389, 396 and 402. Crucial zone - 374 - 380
INTRADAY STOCKS OF THE WEEKFriends I have Chosen 4 Heavy Weight Stocks With Good Price Action.
1. ITC
2. HDFC BANK
3. TATA STEEL
4. HDFC
Stop Loss & Target Is Mentioned In The Chart.
Cheers,
priceNpedia.
ITC - Cup n Handle breakout - 4% upside potentialITC has given cup n handle pattern breakout.
Target is coming to 395 and then 405 (may come in 1-3 days)
SL: 15 mins candle close below 388.
intraday
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
intradayyou can buy on breakout or you can sell at resistance
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
ITCITC
Time frame - 15 min
1. Bullish engulfing pattern seen (Bullish)
2 Ascending triangle Pattern (Bullish)
Conclusion
1. ITC is in correction phase
2. It is making ascending triangle pattern which is bullish pattern
3. If ITC breaks 379.25 then more downside seen
4. If ITC breaks 386.35 and closes above then more upside may be seen
This chart is only for educational purpose
Do your own study before taking any trades
