ITC trade ideas
Itc bullish trend line T1 370
Short term stock keep watch it ☺️☺️
Upcoming day big opportunity
Budget impact more positive
ITC in BOXITC creates a box on weekly time frame and when it breaks the any side then gives fast move we have seen RSI is showing the coming up side on daily timeframe.
ITC has turned a buy, budget might help itITC is showing positive strength, and looking a good buy, given the budget expectations, it might outperform the market, its only for education purpose.
ITC Breakout SoonITC Daily TF Chart. Where Nifty Breaking down its support levels, ITC Shows strength. Watch this stock for Upcoming Trading Sessions
Introduction to market structureHey everyone!👋
In this article, we'll dive into market structure, providing insightful examples to enhance your understanding of this concept.
Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading!
Market structure 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. These trends are nothing but a combination of different structures.
The market structure allows you to be in sync with the market and avoid counter-trend trading, which enhances the probability of your setups.
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.
✅ Lower highs are allowed if the price goes into compression or re-accumulation.
📉 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.
Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful!
See you all next week. 🙂
– Team TradingView
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Gann Box theorythis is the Gann Box Strategy. crossing the 50% level and then 61% level is very important for any stock see in this video how after crossing the 50% and 61% level it gave a sharp rally and then again it kissed the 75% level... but if you go back to the chart previously when it rejected from a high of 300 it was actually 61% level which was not crossed and as such have not gave the rally but this time if it breaks the level of 361 which is 19 square it a new box journey will start and you can wait for the next level of 21 square i.e., 441.
Thank You
DOUBLE BOTTOM FORMED ON ITCITC formed double bottom if it break neck line buying opportunity will created..
Contra Bet on ITC. Will it work?NSE:ITC
I have a detailed analysis on this stock and also know that many investors are frustrated holding this script. It is also clear that demerger is not happening anytime soon so we do not have a comfort for value unlocking from this parameter. But in a contra bet, script has a strong Fundamentals. According to the chart patterns, stock is trading at the lower range of bollinger band. This provides an opportunity to Buy at lower edge (Not trying to fish the bottom). Medium term trend suggests a direct hit of Rs.275 in 3 months. Fundamentals suggest risk reward ratios are favourable at current levels.
The idea shared is only for educational purpose.
ITChovering above major trendline , 339 will act as make or break level . keep an eye 353 on board . place sl at 332
ITC In minor trend resistance 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 CHART ANALYSISITC Chart after Breaking Down his First Support Create Another Support At Lower Levels and after Getting 2-3 Time Support not its Come his Major Hurdle pr Resistance Point and Trying to Make Breakout with His Most Power
Lets See in Coming Session What Happen???
ITC Triple BottomWe can enter long position on the trend line breakout with bullish candle. We can expect target at around next resistance zone. Stoploss at swing low.
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Triple bottom in ITCPrice is forming a triple bottom pattern with a base of 325-326. 330 PE of Jan expiry trading at Rs4.30 has highest open interest. Indicating 325 as an important level.
ITC Make or Break ??!!!!!Chart Pattern itself explains well about the technical situation in ITC.
1. Channel from feb 2022 seems broken [/b ].(we need the next day candle confirmation for a definite move downside)
2. Bearish flag pole pattern (11th nov to till date) roughly gives a target a 18 points down side.
3. Fib levels too broken.
SL and Target levels are as mentioned in the chart.
Volume seems to be the concern for the channel breach candle downside .
Monday's candle seem to be important for the move either side. Wait for it and then Plan your trade.
Let's wait and watch!!!!
Note: Just sharing my view....not a tip nor advice!!!
we see 300 or more down in ITCas per the chart, it seems that we will see a 300 or more low in ITC in the coming days
buying around 292 will be a good opportunity for getting a nice return in short period
#ITC - Bullish harmonics pattern. Lets expect a good up #ITC - Bullish harmonics pattern. Lets expect a good up
ITCITC had completed 3 of higher degree and now it's in wave 4. Wave can go upto 320 to 300. So Buy in this Range and Tgt would be 380/400...SL 285
